- Analytics
- News and Tools
- Market News
- GBP regains upper 1.27s – Scotiabank
GBP regains upper 1.27s – Scotiabank
The Pound Sterling (GBP) retains a somewhat firm undertone in the upper 1.27s. It also failed to hold the post NFP gains on the USD Friday but it has found a solid bid off the intraday low in European trade, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
Reeves heads to Brussels to help UK/EU reset
“There were no UK data releases of note today. Chancellor Reeves is visiting Brussels as the Labour government pursues its attempt to ‘reset’ UK relations with the EU. Improvement here would be constructive for the GBP in the medium term.”
“Intraday price action looks a little more GBP-positive but gains will have to be sustained over the course of the session for a bull signal to be confirmed. Sterling tested the 200-day MA (1.2822) effectively last week.”
“Regaining the low 1.28 region on a sustained basis would suggest a new, slightly firmer 1.28/1.30 range may be developing. Support is 1.2720/25.”
© 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
