GBP/USD: Many investors will now be targeting a move to 1.33 assuming a weekly close above 1.30 – ING

Economists at ING analyze British Pound (GBP) outlook.

Cable up, EUR/GBP sideways

In some ways, Sterling has already enjoyed its re-rating on the very hawkish BoE and thus may not outperform in this current Dollar bear phase. However, many investors will now be targeting a move to 1.33 in GBP/USD – assuming we can close the week above 1.30.

The EUR/GBP pair has reversed off a low near 0.8500 – which now may mark the lower end of the trading range for this quarter.