GBP/USD could see some further gains to the 1.22/23 area – ING
|GBP/USD touched its highest level in three months at 1.2155 on Thursday. The Cable could see further gains to the 1.22/23 region, economists at ING report.
EUR/GBP has good support in the 0.8550/8600 area
“We think positioning has played a major role in this Sterling recovery and GBP/USD could see some further, temporary gains to the 1.22/23 area – which we would again see as the best levels before year-end.”
“EUR/GBP has good support in the 0.8550/8600 area and given our view of a difficult risk environment into year-end and early 2023 as central banks raise rates into recessions, Sterling should remain vulnerable.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.