GBP/USD climbed above 1.2500 for the first time since June on Tuesday. The pair should remain resilient in the near term, economists at ING report.

EUR/GBP to reach 0.89 by the summer and 0.90 by the second half of the year

“While we don’t see reasons to dislike Cable in the very near term as long as the Dollar momentum remains soft, we continue to favour a higher EUR/GBP in the remainder of the year on the back of our view that Bank of England tightening expectations are overdone.”

“We target 0.89 by the summer, and 0.90 by the second half of the year.”