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- GBP/USD: Failure to reclaim 1.26 may give the pound a more bearish feel – Scotiabank
GBP/USD: Failure to reclaim 1.26 may give the pound a more bearish feel – Scotiabank
Cable’s gains have been capped out around the 1.2590 area. Economists at Scotiabank expect a close below 1.26 to exert more downside pressure on the GBP/USD pair.
Resistance after the 1.26 figure area is located at 1.2630
“A failure to reclaim the 1.26 handle may give the GBP a more bearish feel to close out the week after it broke through its bullish trend from the mid-May lows on Tuesday.”
Support is the mid-1.25s area followed by 1.2525 and the big figure” zone; Wed’s low of 1.2459 follows.”
“Resistance after the 1.26 figure area is 1.2630 and the mid-1.26s.”
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