#GBPUSD @ 1.16033 to extend its rally towards 1.20 on a break above 1.1605/20 – Scotiabank
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
Sterling is one of the better G10 currency performers on the day. Economists at Scotiabank expect the GBP/USD to return to the 1.20 area on a break past the 1.1605/20 zone.
“Cable breaking and holding above 1.14 is a bullish medium-term signal for the pound.”
“We expect firm support on dips to the low 1.14s/high 1.13s from here.”
“GBP gains are stalling in the 1.16 zone today, however, extending gains through the 1.1605/10 zone targets a return to the 1.20 area for cable.”
[/s2If]
Join Our Telegram Group
