GBP/USD to return to the 1.25 mark amid stabilisation in risk sentiment – ING

The pound is finally finding some stability after a rough couple of weeks. Economists at ING expect the GBP/USD pair to climb back above the 1.25 level.

Seeking more stability

“Some stabilisation in sentiment should offer additional support today, and possibly help a return to the 1.2500 mark in GBP/USD.”

“The market’s overly hawkish expectations on Bank of England tightening and uncertainty around the British economic outlook are set to keep GBP/USD capped in our view.”

“We have a 1.2400 target for cable for the summer months, followed by a very gradual recovery in 2H22.”