GBP/USD: Clear break above 1.2450 to arrange a take a look at of the Could excessive close to 1.2665 – BBH

GBP/USD climbed towards 1.2450 however erased its each day positive factors. Economists at BBH notice that the pair may take a look at the Could excessive close to 1.2665 on a break previous the December excessive close to 1.2445.

The UK remains to be dealing with tight energy markets as chilly climate hits

“Sterling is buying and selling decrease close to 1.2350 after making a brand new cycle excessive as we speak close to 1.2450 and simply above the December excessive close to 1.2445. Clear break above that will arrange a take a look at of the Could excessive close to 1.2665.”

“Nationwide Grid has requested some UK households to chop power use as we speak and is more likely to prolong that request to tomorrow as a consequence of a drop in wind energy coupled with freezing temperatures throughout the nation. Of notice, this emergency measure to scale back electrical energy demand was beforehand in take a look at mode however has now gone reside.”