GBP/USD could strongly test the 1.2000 level shortly – ING

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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.”

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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“.

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Source: Fx Street

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