GBP/USD to struggle to recover beyond the 1.32/1.33 area – ING

GBP/USD extends its correction from weekly highs, now pressured around 1.3150. Economists at ING think cable is set to remain below the 1.32/33 area.

EUR/GBP to dip to the 0.8300 mark in the near-term

“Some re-pricing of rate expectations after some cautiousness emerged in the latest BoE meeting and the dollar possibly regaining some momentum all mean that cable may struggle to recover beyond the 1.32/1.33 area.”

“The euro’s greater exposure to lingering uncertainty in Ukraine could still favour a EUR/GBP decline to the 0.8300 mark in the near-term.”