#GBPUSD @ 1.20269 : Support levels at 1.1850/1950 may hold over the next couple of weeks – ING
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
GBP/USD closed in negative territory on Thursday but managed to hold above 1.2000. Support levels at 1.1850/1950 are set to hold in the next few weeks, economists at ING report.
“Following Tuesday’s strong PMI release, the UK outlook has received another boost today in the form of a big jump in GFK consumer confidence. This has now returned to levels not seen since last April.”
“Slightly better growth prospects, sticky inflation and some further monetary tightening are the story across the US, the Eurozone and the UK at the moment – suggesting bilateral FX rates do not need to move too much.
“Three-month GBP/USD implied volatility has drifted under 10% and would tend to favour more modest moves in the spot. We think support levels at 1.1850/1950 may hold over the next couple of weeks.”
[/s2If]
Join Our Telegram Group
