GBP/USD looks biased towards the 1.2350 area this week – ING

GBP/USD holds in positive territory at around 1.2150. Economists at ING expect the pair to extend its advance towards the 1.2350 region. 

BoE Chief Economist speaks at 15:30 GMT

“Recent job and wage data has yet to assuage the BoE’s concerns over a tight UK labour market, thus we doubt Huw Pill will need to sound very dovish today.” 

“With the Dollar at risk of falling further, GBP/USD looks biased towards the 1.2350 area this week, while EUR/GBP should find support in the 0.8780 area.”