From the FXWW Chatroom – GBPUSD to target 1.58. We expect this near-term GBP strength to be emphasised against the USD with GBPUSD set to extend gains towards 1.58 in the next couple of months. While EURGBP has broken lower through the bottom end of the recent range, downside is likely to be limited to 0.7200. If the ECB takes no further easing measures at this week’s meeting, as we anticipate, then EURGBP is likely to rebound, driven by a stronger EUR.
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