The GBP/USD is expected to break through the 1.25 barrier on a consistent basis, according to ING.

This morning, the GBP/USD pair fell below 1.25 for the third time in the last three sessions. Similar movements on Monday and Tuesday were swiftly reversed, but ING analysts believe the pair will break down decisively.

May 04, 2022 - 02:53 PM 227 views

The GBP/USD is expected to break through the 1.25 barrier on a consistent basis, according to ING.

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© The GBP/USD is expected to break through the 1.25 barrier on a consistent basis, according to ING.

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This morning, the GBP/USD pair fell below 1.25 for the third time in the last three sessions. Similar movements on Monday and Tuesday were swiftly reversed, but ING analysts believe the pair will break down decisively.

      Today, EUR/GBP could stay around the 0.84-0.8450 region.

       It appears that the pair will make a meaningful break lower in the near future. If not sparked by today's FOMC news, it might happen as a result of tomorrow's Bank of England (BoE) policy meeting, which we believe will break hawkish expectations and put some depreciation on the pound.

       Despite tomorrow's identified risk, the EUR/GBP pair could stay in the 0.84–0.8450 area, but after the BoE statement, it could rise into the 0.8450-0.85 region.

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