The GBP/USD pair has regained the 1.24 handle. However, economists at ING expect Cable to remain below the 1.25 level this quarter.

EUR/GBP set to move back to the 0.90 zone

“The EUR/GBP pair has just about been keeping its head above the 0.8750 support level. We favour a return to the 0.89 area.”

“And our base case is that GBP/USD may struggle to sustain a break above 1.25 this quarter – whilst the Fed is still in the last stages of tightening.”