- Analytics
- News and Tools
- Market News
- GBP/USD needs to firm up past the mid-1.25s to improve its fate – Scotiabank
GBP/USD needs to firm up past the mid-1.25s to improve its fate – Scotiabank
The GBP/USD pair once again fell below 1.25. Economists at Scotiabank note that cable needs to surpass the mid-1.25s in order to improve its outlook.
Recent price action is suggestive of a reversal of GBP May gains
“The decline to a fourteen-session low is signaling greater downward pressure than in recent declines under 1.25.”
“The pound’s daily low of 1.2431 stands as key support after ~1.2480, with the mid-1.24s also standing as a psychological floor.”
“We think the GBP will need to firm up past the mid-1.25s shortly and then push past 1.26 to improve its fate as recent price action is suggestive of a reversal of its May gains.”
© 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
