Expectations for the GBP/USD pair to rise to the level of 1.30 points

In conjunction with the pound’s adherence to its recent gains, economists at ING Bank issued their expectations for the movements of the sterling-dollar pair during the coming period.

As experts saw that the Bank of England is expected to continue raising interest rates by about 25 basis points during the upcoming meeting this week and during its upcoming meetings as well, and this in turn It will provide clear support for the GBP/USD pair.

And the economists of the Dutch bank continued that the sterling-dollar pair may rise towards the level of 1.30 points, despite the absence of additional incentive to achieve more gains in the coming period, especially with the British press fears of the mortgage crisis in Britain at the present time, but most likely no strong correction will occur. For the GBP/USD until some weak economic data is released, which may take several months.

It should be noted that in light of the rises of the GBP/USD pair during the last period, economists at Scotiabank expected that the pair would maintain its positive performance during the last period, especially since the GBPUSD managed to close above 1.2445 points on a weekly basis in the past week, which is the level Which gives the upward movement more momentum towards the level of 1.27/1.28 points.

Experts at the Bank of Canada indicated that the sterling-dollar pair will find strong support at the level of 1.2580 points, and the strongest support is currently near the level of 1.2540 points, but it is likely that the strong trend momentum will continue and that the pair will find strong support at the slight declines, which will give the pound sterling more strength.