GBP/USD: Range trade outlook for now – Scotiabank
|GBP/USD is modestly lower on the session. Economists at Scotiabank analyze the pair’s outlook.
Daily and weekly signals continue to flash bullish
Sterling sits more or less mid-way between key support at 1.2600/1.2610 and resistance at 1.2830.
Trend momentum is tilting bearish on the intraday study but the signal is weak.
Daily and weekly signals continue to flash bullish, which complicates the near-term outlook and perpetuates the range trade outlook for now.
See – UK: Further evidence of disinflation would weaken the GBP – MUFG
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.