GBP/USD to struggle to surpass the 1.1730/50 resistance zone – ING GBPUSD UnitedKingdom GDP Banks
GBP/USD has broken above 1.1600. Economists at ING expect the pair to remain capped by the 1.1730/50 resistance area.“July UK GDP has come in slightly softer than expected at 0.2% month-on-month. However, the adjustment for the June bank holiday makes the figures a little difficult to read and we think the will take more notice of tomorrow's August jobs data for insight into how tight the UK labour market really is.
“We are not particularly bearish on the dollar – thus we doubt GBP/USD makes it as far as the 1.1730/50 resistance area.” 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.
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