- Analytics
- News and Tools
- Market News
- GBP/USD: Gains through 1.2206 should signal potential for a bit more pickup – Scotiabank
GBP/USD: Gains through 1.2206 should signal potential for a bit more pickup – Scotiabank
GBP is firmer against the generally weaker USD. Economists at Scotiabank analyze Cable’s outlook.
Firm demand for the Pound on weakness to or a little below 1.21
Sterling price action reflects firm demand for the Pound on weakness to or a little below 1.21 still but gains have been limited to the 1.22 area, near the early week high for Cable.
Intraday trend momentum is bullish but the daily DMI reading is neutral, at best.
GBP gains are being held back on the daily chart by trend resistance off the July high. Gains through 1.2206 should signal potential for a bit more pickup in Cable at least.
© 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
