Scotiabank suggests that the current price level of GBPUSD at 1.24705 makes it highly likely for the currency pair to approach the previous lows of 1.2435 in the near future.

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GBPUSD Chart by TradingView

The GBP is the main underperformer among the G10 currencies. Economists at Scotiabank analyze Sterling’s outlook.

See: GBP/USD: A drop to 1.2400 still appears in the pipeline – UOB

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