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Pound set to gain – FXStreet

FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, notes that GBP is set to gain post the US GDP data as the UK and US bond yields are likely to favour the Pound.

Key Quotes

“Given the action in the UK and US benchmark bond yields, the yield spread is more likely to tilt in favor of the British Pound post the US GDP data.”

“Technically, the GBP/USD pair appears poised to test 1.5730-1.5740 levels after having bounced-off repeatedly from 1.5620 levels in the past few sessions.”

“A break above 1.5740 shall open doors for a technical target of 1.5880 levels on the hourly chart.”

“Even if the US GDP prints in-line with the expectation or slightly higher than expected, the weakness in the GBP/USD pair is likely to be restricted around 1.5620 levels.”

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