#GBPUSD @ 1.20952 : Losses to extend toward the low/mid-1.19s below 1.2090 support – Scotiabank
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The GBP/USD pair slides to the 1.21 support zone. A break under recent range base support at 1.2090 would open up room for further losses, economists at Scotiabank report.
“Short-term trend momentum has picked up bearishly for the GBP and corrective pressure, following the sustained rise from the Sep extreme low, is building.”
“Near-term downside risk extends to the low/mid 1.19s below support at 1.2090.”
“Resistance is 1.2180.”
See: GBP/USD could return to the 1.15-1.18 range in the new year – ING
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