GBP/USD: 1.27/1.28 on the radar – Scotiabank
|GBP/USD extends gains. Economists at Scotiabank expect the pair to retain a positive undertone.
Ongoing pressure for more GBP strength
“Recall that the Pound managed to close above 1.2445 on a weekly basis last week – a level that had clearly restrained gains in this move up – to give the bull move a little more impetus and put 1.27/1.28 on the radar.”
“Intraday support is 1.2580, with firmer support now at 1.2540/50.”
“Solid trend momentum signals suggest firm support on minor dips and ongoing pressure for more GBP strength.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.