GBP/USD may find it hard to go much beyond the 1.30 level – HSBC GBPUSD UnitedKingdom BOE InterestRate Banks
The British Pound has outperformed many other G10 currencies so far this year. Economists at HSBC analyze GBP outlook.Following June’s downside inflation, market pricing for the Bank of England’s peak policy rate fell from 6.00% on 18 July to around 5.85% and GBP/USD fell below the 1.30 level .
In addition, prior monetary tightening will only bite harder through time, and with fewer supportive disinflationary forces in Q4, there are downside risks to current economic resilience. While we remain bullish for the GBP in light of a broad USD decline, we are watching closely to see if such signs become more apparent as this could curb GBP gains. As such, we think that GBP/USD may find it hard to go much beyond the 1.30 level.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pairs in Focus This Week \u2013 GBP/USD, EUR/USD, Silver, USD/CADGet the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of July 23rd, 2022 here.
Read more »
GBP/USD: Weekly Forecast 23rd July - 29th JulyThe GBPUSD will begin trading tomorrow near 1.28520, which is a value the currency pair has not traversed in a sustained manner since the 10th of July- Forex Forecast
Read more »
GBP/USD Price Analysis: Cable portrays pre-data anxiety within key EMA envelope around 1.2850GBP/USD Price Analysis: Cable portrays pre-data anxiety within key EMA envelope around 1.2850 – by anilpanchal7 GBPUSD PMI Technical Analysis ChartPatterns SwingTrading
Read more »
GBP/USD risks extra pullbacks near term – UOBFurther losses appear in store for GBP/USD in the short-term horizon, suggest Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group
Read more »
GBP/USD could correct to the 1.2670/2700 area this week – INGSterling has been under pressure over the last week. Economists at ING analyze GBP outlook. EUR/GBP could correct back toward the 0.8600 area Given th
Read more »
GBP/USD Price Analysis: Cable bears attack seven-week-old ascending support line near 1.2800GBP/USD Price Analysis: Cable bears attack seven-week-old ascending support line near 1.2800 – by anilpanchal7 GBPUSD Technical Analysis ChartPatterns TrendFollowing Currencies
Read more »