The GBP/USD pair fell sharply in the second half of the previous week, hitting its lowest level in a month at 1.2033. The ING Economists expect the pair to challenge the 1.20 level soon.
Growth data in the spotlight this week
“We expect the British economy narrowly avoided a technical recession in the fourth quarter. Still, a recession between the first and second quarters of 2023 is more than possiblealthough it could be milder than expected thanks to the drop in energy prices.”
“Growth data and BoE speeches will be the two domestic catalysts for the pound this week, although global risk sentiment, geopolitical developments and a supported dollar can work against any positive domestic news.”
“He GBP/USD could strongly test 1.2000 soon“.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
