#GBPUSD @ 1.22097 : Weakness below 1.22 to trigger a deeper drop to the 1.2075/1.2125 range – Scotiabank
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
Sterling has not escaped the corrective rebound in the USD. Cable could fall to the 1.2075/1.2125 range on a break under the 1.22 level, economists at Scotiabank report.
“Short-term pressure on the GBP is moderating around the 1.22 line – minor pivot support on the intraday chart. Loss of support at 1.2260 (minor resistance intraday now ) confers a soft look on the GBP outlook in the short run, however.”
“Weakness below the 1.22 point will tip the balance of risks towards a deeper drop to the 1.2075/1.2125 range.”
[/s2If]
Join Our Telegram Group
