- Analytics
- News and Tools
- Market News
- GBP/USD still seems prone to setbacks at or a little above 1.25 – Scotiabank
GBP/USD still seems prone to setbacks at or a little above 1.25 – Scotiabank
GBP/USD grinds higher as markets focus on BoE tightening risks, economists at Scotiabank report.
Gains are choppy
The OECD noted yesterday that the UK will have one of the highest rates of inflation among the major economies this year (6.9%). That’s not a good look for the Pound but it should also be no surprise that markets are still pricing close to another 100 bps of BoE tightening over the coming months to combat price gains.
Cable continues to grind higher after a solid overall performance last week but gains are choppy and the Pound still seems prone to setbacks at or a little above 1.25.
Intraday support is 1.2425/35. Resistance is 1.2490/00 and 1.2550.
© 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
