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    GBP/USD: More range trading in Cable in the short run – Scotiabank

    Source Fxstreet
    Mar 27, 2024 12:26

    GBP/USD trades flat on the day after failing to hold gains to the upper 1.2600s. Economists at Scotiabank analyze the pair’s outlook.

    Support is 1.2600, resistance is 1.2665

    The GBP/USD pair failed to generate much lift and Cable’s intraday peak around 1.2665/1.2770 on Tuesday morning may have set a short-term ceiling for Cable after Monday’s push higher. 

    More range trading looks likely in the short run.

    Support is 1.2600/1.2610. Resistance is 1.2665/1.2675.

    See: USD to remain resilient, downside risks to the GBP in the months ahead – HSBC

    Disclaimer: For information purposes only. Past performance is not indicative of future results.
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