Scotiabank predicts that the GBPUSD currency pair, currently trading at 1.22636, is likely to experience further declines towards the range of 1.21 to 1.22.
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GBP weakness extends. Economists at Scotiabank analyze Cable’s outlook.
New cycle lows for the GBP and strongly aligned bear signals on the short, medium and long-term trend strength oscillator imply more downside risk for Sterling.
Resistance is 1.2350.
See:
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