#GBPUSD @ 1.25725 : Topside pressure continues to develop towards 1.27/1.28 – Scotiabank
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The GBP/USD pair eeks out marginal gains to a new cycle high. Economists at Scotiabank expect Cable to enjoy further gains.
“New cycle highs, however marginal today, keep the broader backdrop for Cable positive.”
“Last week’s firm close through 1.2445/50 remains a key feature of the GBP charts from my point of view and suggest topside pressure continues to develop (towards 1.27/1.28) even if gains remain very slow.”
“GBP/USD support is 1.2475/1.2525.”
See: GBP/USD could trade up to 1.2650/2750 – ING
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