- Analytics
- News and Tools
- Market News
- GBP/USD: Potential for gains to extend to 1.27/1.28 – Scotiabank
GBP/USD: Potential for gains to extend to 1.27/1.28 – Scotiabank
GBP/USD is consolidating in the low 1.25 area. Economists at Scotiabank expect the pair to enjoy further gains.
Short-term price patterns are mildly bullish
“The fact that Cable is trading on a 1.25 handle remains a broader positive for the Pound, given it has struggled mightily to extend gains through the mid-1.24 area this year.”
“Short-term price patterns are mildly bullish, given the steady uptrend in spot since the mid-Apr test and rejection of key support at 1.2350/60.”
“Friday’s drop from the intraday high is a setback from a technical point of view but trend momentum remains bullish and losses should remain limited.”
“New cycle highs would be bullish and reaffirm potential for gains to extend to 1.27/1.28.”
© 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
