GBP/USD snapped a three-day losing streak on Wednesday. Economists at ING believe that the pair could race higher toward the 1.2450/2500 region.

EUR/GBP could push up to the 0.90/91 area later in the year

“Benign global conditions are supportive for the risk-sensitive Sterling and suggest GBP/USD could make a run at the 1.2450/2500 area this week.”

“EUR/GBP has drifted higher again. On balance, we would favour continued outperformance given the greater scope for convergence in Eurozone and Sterling rates at the shorter end of the curve.” 

“EUR/GBP may end the quarter near 0.89, but push up to the 0.90/91 area later in the year.”