GBP/USD: 1.20 remains a real possibility – ING

Bank of England Decision Maker Panel survey offered a few interesting highlights. Economists at ING discuss GBP outlook.

EUR/GBP may keep struggling to find any real sense of direction

We think the survey can modestly help our call for a BoE hold in November, although mostly for what that may suggest about ongoing price dynamics rather than how highly regarded the Decision Makers Panel Survey is at the MPC.

EUR/GBP may keep struggling to find any real sense of direction, while GBP/USD looks vulnerable to a Dollar rebound. It is too early to rule out a move to 1.2000.