GBP/USD to stage a decisive break below the 1.30 level – ING

GBP/USD has seen some dips below the psychological support of 1.30. Economist at ING expect cable to settle below this level in the week ahead.

Time for a decisive move below 1.30?

“The only two releases to keep an eye on in the UK calendar this week are tomorrow’s retail sales and PMIs, as well as speeches by Bank of England Governor Andrew Bailey and Catherine Mann on Thursday.”

“Cable is currently trading around 1.30: breaks below this level have proven to be very short-lived in previous instances (March-April), but we think that a supported dollar and the lack of major drivers for sterling this week could support a more decisive depreciation in GBP/USD.”