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- GBP/USD: Bullish picture looks weaker, but with a still broadly positive trajectory – Scotiabank
GBP/USD: Bullish picture looks weaker, but with a still broadly positive trajectory – Scotiabank
GBP/USD remains depressed below the 1.26 mark. Economists at Scotiabank highlight the key levels to watch on the cable.
The mid-1.25 area stands as support
“The pound’s failure to extend its rally past the mid-1.26s over the past few days and a break under its upward-sloping trendline since mid-May leaves the GBP-bullish picture looking weaker, but with a still broadly positive trajectory.”
“Resistance is ~1.2630 followed by firmer at 1.2660/70 (the Fri and Mon highs) and then the big figure.”
“The mid-1.25 area is support followed by the big figure zone.”
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