- Analytics
- News and Tools
- Market News
- GBP/USD: Ongoing pressure for a retest of key resistance at 1.2445/50 – Scotiabank
GBP/USD: Ongoing pressure for a retest of key resistance at 1.2445/50 – Scotiabank
GBP/USD bounces nicely from the 1.2275 area. Economists at Scotiabank expect the pair to pressure the 1.2445/50 resistance.
Bull trend holds
“Mar CIPS Manufacturing data was revised down slightly (47.9, from 48.0) but the data had little impact on the GBP which has traded steadily higher from the session low just under 1.23.”
“The Pound remains in a solid, short-term uptrend. Broader technical signals remain positive and underlying trend signals are aligned positively for the GBP. This implies limited downside for the GBP for the moment and ongoing pressure for a retest – at least – of key, medium-term resistance at 1.2445/50.”
© 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
