GBP/USD to slump towards 1.30 on repricing of BoE hikes – Scotiabank GBPUSD BOE Banks
rates pricing are still too optimistic, which should drag cable down to the 1.30 level, according to economists at Scotiabank.“We think markets could do with a decent amount of repricing of BoE hikes, as they still foresee the bank rate reaching 2% this year, which should weigh on the GBP towards a test of 1.30 soon.”
“Broader trends since last summer would suggest weakness ahead in the GBP but near-term price action remains restrained, providing little sense of direction.”“Resistance is ~1.3150 followed by 1.3180.”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.
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