GBP/USD: A return to 1.1500 around the turn of the year seems appropriate – ING GBPUSD Banks
GBP/USD has gone into a consolidation phase at around 1.2250. Economists at ING expect the pair to plummet toward 1.1500 by year-end.“US Nonfarm Payrolls may fail to invert the bearish Dollar trend and GBP/USD may find a bit more support around 1.2300-1.2350.”is not factoring in the negative implications of rebounding gas prices and weak economic fundamentals. A return to 1.1500 around the turn of the year seems appropriate in our view.
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