Gains through 1.2640/1.2650 resistance needed to give Cable an additional lift from here – Scotiabank – Crypto News – Crypto News
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GBP/USD slides to over one-month low, below 1.1800 mark amid sustained USD buying GBP/USD slides to over one-month low, below 1.1800 mark amid sustained USD buying

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Gains through 1.2640/1.2650 resistance needed to give Cable an additional lift from here – Scotiabank – Crypto News

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1 year ago

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GBP/USD holds support below 1.2600. Economists at Scotiabank analyze the pair’s outlook.

Cable based around 1.2590/1.2600

Markets continue to reflect the expectation that the BoE will hold off until August before easing. Rate expectations are perhaps providing the GBP with a bit of a cushion against the USD’s advance.

Sterling has rebounded modestly from the earlier session low. The GBP/USD pair based around 1.2590/1.2600, effectively a retest of the 200-Day Moving Average where Cable has found support in the recent past. 

Gains through 1.2640/1.2650 resistance are needed to give the GBP an additional lift from here, however.

 

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