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- GBP/USD risks losses to 1.33/1.32 on a break below 1.3375/55 – Scotiabank
GBP/USD risks losses to 1.33/1.32 on a break below 1.3375/55 – Scotiabank
GBP/USD rises to mid-1.34s. This move leaves the pair technical picture looking less bearish but economists at Scotiabank still expect the cable to suffer further losses towards the 1.33/32 region.
First real test of momentum is 1.3450 resistance zone
“The overall trend in the pound remains bearish, but the recovery from the break under 1.34 on Thursday leaves the shorter-term GBP picture looking a touch less negative.”
“The first real test of momentum is 1.3450 resistance zone. Beyond the mid-figure zone, the GBP faces resistance around 1.3500 and the 100-day MA of 1.3521.”
“Support is 1.3390/400 followed by 1.3355/75. Below this area, the pound risks losses to 1.33/1.32.”
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