GBP weakness extends. Economists at Scotiabank analyze Cable’s outlook.
More downside risk for Sterling
New cycle lows for the GBP and strongly aligned bear signals on the short, medium and long-term trend strength oscillator imply more downside risk for Sterling.
Loss of support in the 1.24 zone targets additional losses to 1.21/1.22.
Resistance is 1.2350.
See:
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD appears range bound near 1.1050, looks at FOMC Minutes
EUR/USD remains firmly in bullish territory, hovering around 1.1050 amid a significant sell-off in the US Dollar, as persistent worries over the China-US trade war continue to weigh on market sentiment.
GBP/USD meets support around 1.2750, USD remains weak
GBP/USD's correction seems to have met a decent contention around the 1.2750 zone so far on Wednesday, as investors continue to assess the ongoing US-China trade war ahead of the release of the FOMC Minutes.
Gold extends the uptick to nearly $3,100
Gold continues its upward trend, inching closer to the $3,100 mark per troy ounce on Wednesday. Its advance is bolstered by steady safe-haven demand, as investors seek refuge amid ongoing trade tensions between the US and China.
Fed Minutes to offer clues on rate cut outlook amid tariff uncertainty
The eagerly awaited minutes from the US Fed’s March 18-19 monetary policy meeting are set for release on Wednesday at 18:00 GMT. During the gathering, policymakers agreed to keep the Fed Funds Target Range (FFTR) unchanged at 4.25%-4.50%.
Tariff rollercoaster continues as China slapped with 104% levies
The reaction in currencies has not been as predictable. The clear winners so far remain the safe-haven Japanese yen and Swiss franc, no surprises there, while the euro has also emerged as a quasi-safe-haven given its high liquid status.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.