#GBPUSD @ 1.22853 : On track for a test of the 1.2450/60 zone – Scotiabank
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Cable retains a firm undertone. Economists at Scotiabank expect the GBP/USD pair to test the 1.2450/60 area.
“A steady procession of higher highs and higher lows on the short-term chart is keeping the GBP/USD pair on track for a test of 1.2450/60.”
“Short-term support is 1.2220, with stronger support seen at 1.2120/30.”
“A push through the 1.2340/50 area should give GBP gains some additional positive momentum.”
See: Accumulation of bad news from the UK justifies a weak Sterling – Commerzbank
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