#GBPUSD @ 1.21018 : Gains to pick up through low-1.21s – Scotiabank
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GBP/USD stages bull reversal. Gains through the low/mid-1.21 area should see Cable pick up a little more momentum, economists at Scotiabank report.
“Cable formed bullish key reversal session yesterday (new low, higher close and higher high relative to Monday), strongly signaling a reversal in the pound’s recent slide.”
“Intraday gains are struggling a little around the 1.21 point but modest dips are likely to be taken advantage of by buyers.”
“Gains through the low/mid-1.21 area should see the GBP pick up a little more momentum in the next few days.”
“Support is 1.2045/50.”
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