GBP/USD will have to overcome 1.2700/1.2710 for gains to extend – Scotiabank

FXStreet Insights Team FXStreet

GBP/USD is marginally lower on the day but is essentially marking time in its established trading range of 1.2520/1.2825. Economists at Scotiabank analyze the pair’s outlook.

Trend dynamics and price signals are bullish on the intraday chart

Sterling is a little above the midpoint of the broad, 1.2520/1.2825 range in pace since the start of the year.

Trend dynamics and price signals are bullish on the intraday chart but the daily chart reflects resistance at 1.2700/1.2710 which the GBP will have to overcome for gains to extend.

Support is 1.2600.

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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