#GBPUSD @ 1.24194 : Strong barrier seen at 1.25 – ING
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GBP/USD snapped a four-day losing streak on Tuesday and closed the day above 1.2400. However, the pair is set to struggle at the 1.25 hurdle, economists at ING report.
“Governor Andrew Bailey speaks in Washington today. There is a risk that he hints at a pause, having seen fellow central bankers in Australia and Canada do so over recent months.”
“US CPI and Governor Bailey’s speech should be the key drivers today. We see 1.25 as a strong barrier for GBP/USD and favour EUR/GBP higher – especially if the BoE governor gives a nod to a pause in May.”
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