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GBP/USD: Break below 1.1730 on the cards on the back of USD strengthening – ING

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After having registered small every day positive factors on Thursday, GBP/USD has reversed its direction. A damage below 1.1730 is a wonderful opportunity if the greenback strengthens following ultra-modern speech by means of Jerome Powell in Jackson Hole.

All eyes on Powell’s speech at Jackson Hole Symposium
“Cable must cross commonly in line with the greenback response to Jackson Hole. A wreck under the 1.1730 lows from formerly this week may additionally properly be on the playing cards on the returned of USD strengthening, as 1.1500 (the 2020 flash crash bottom) is no longer searching like a far flung possibility.”

“It will be fascinating to see EUR/GBP response to today’s speech by means of Powell. We ought to see a small healing in the pair in a hawkish situation the place threat sentiment is hit, thinking about GBP is generally greater touchy to world chance moves, however the low urge for food for EUR longs ought to preserve a cap on the pair for now.”

 

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