- Analytics
- News and Tools
- Market News
- GBP/USD is on track to resettle into a 1.36-1.38 range – Scotiabank
GBP/USD is on track to resettle into a 1.36-1.38 range – Scotiabank
Cable’s steadily higher price action since yesterday’s test of 1.3450 saw it test the 1.36 mark earlier today before selling pressure emerged. However, economists at Scotiabank expect GBP/USD to tackle the 1.3600/10 resistance area.
Support is seen at 1.3550
“Technical signals point to a re-test of the level (1.3600/10) to be followed by intermediate resistance in the mid-figure area and then firmer around 1.37 (50-day MA at 1.3693).”
“A reversal of its losses above 1.36 may see the GBP/USD pair resettle into a 1.36-138 range but within a minor downtrend as it reached lower highs in its past three periods of strength.”
“Support is 1.3550 followed by the figure area.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
