• GBP/USD: 1.30 could be the surprise package for Christmas above resistance at 1.2820/1.2850 – ING

Market news

15 tháng 12 2023

GBP/USD: 1.30 could be the surprise package for Christmas above resistance at 1.2820/1.2850 – ING

The Bank of England (BoE) offered pushback against dovish expectations. Economists at ING analyze the Pound’s outlook after the latest Monetary Policy Statement. 

BoE ladles thin gruel to the doves

There was nothing in the BoE statement to encourage dovish expectations for 2024, and Dec 2024 Sonia 3m interest rate futures lost about 10 ticks after the meeting.

For today, look out for the flash UK PMIs for December. The important services index is holding its head above the 50 break-even area and another reading near 51 might prove a little supportive to the Pound. 

1.2820/1.2850 is decent resistance for Cable above which 1.30 could be the surprise package for Christmas.

 

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
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.