GBP/USD: Below the 1.2340/50 area the downside could open up to the 1.2200 level – ING

Market news

25 May 2023

GBP/USD: Below the 1.2340/50 area the downside could open up to the 1.2200 level – ING

Economists at ING discuss EUR/GBP and GBP/USD outlook.

EUR/GBP bias is probably now for a retest of the 0.8650 area

“The EUR/GBP bias is probably now for a retest of the 0.8650 area, and we'll definitely have to see some softer wage/price data over the coming weeks for the Bank of England to be diverted from what looks like another 25 bps hike on June 22nd.”

“For GBP/USD, the 1.2340/50 area seems decent support below which the downside could open up to the 1.2200 area.”

Currencies. Daily history for Thursday, May 25, 2023

Commodities. Daily history for Wednesday, May 24, 2023

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.