There is a likelihood of continued losses for GBPUSD, with a possibility of it falling back to the 1.20/1.21 range, according to Scotiabank.

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GBPUSD Chart by TradingView

Sterling is a clear underperformer on the session, although Cable losses are moderate on the day and it is trading off the earlier low. Economists at Scotiabank analyze GBP outlook.

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