Cable is clawing back more of yesterday’s losses against the USD to regain the mid-1.27s. Economists at Scotiabank analyze GBP/USD outlook.
Cable is clawing back more of yesterday’s losses against the USD to regain the mid-1.27s. Economists at Scotiabank analyze GBP/USD outlook.
Look for firm support on dips to the low 1.27s intraday
With no major data reports from the UK, positioning and the GBP’s short-term yield premium versus the USD is supporting the GBP rebound.
Trend momentum remains solidly bullish across short, medium, and long-term oscillators, suggesting a push to (and through) the mid-1.28s is still on the cards.
Look for firm support on dips to the low 1.27s intraday. Resistance is 1.2780 but gains should pick up more noticeably above there.
With no major data reports from the UK, positioning and the GBP’s short-term yield premium versus the USD is supporting the GBP rebound.
Trend momentum remains solidly bullish across short, medium, and long-term oscillators, suggesting a push to (and through) the mid-1.28s is still on the cards.
Look for firm support on dips to the low 1.27s intraday. Resistance is 1.2780 but gains should pick up more noticeably above there.
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