GBP/USD: Struggles to gain momentum through upper 1.26s – Scotiabank
|The Pound Sterling (GBP) is registering a very marginal gain on the USD on the session but it is trading flat effectively Scotiabank’s Chief FX Strategist Shaun Osborne notes.
GBP holds narrow range
“There were no UK data reports today to shape trading and the pound is marking time in ranges along with its major currency peers.”
“Sterling has stalled in the upper 1.26s, with the pound making hard work of promising gains on the short-term charts. The potential for a bit more strength in the pound remains but, realistically, this is not something that is likely to develop without other currencies making a move against the USD as well. Resistance is 1.2760. Support is 1.2610.”
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.