GBP/USD: More range trading in Cable in the short run – Scotiabank
Source Fxstreet
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.
Recommended Articles
U.S. to freeze and take control of Venezuela's Bitcoin holdings after Maduro captureThe United States is allegedly moving to freeze and take control of Bitcoin held by Venezuela after the capture of Nicolás Maduro, who is now facing narco-terrorism charges in a federal court in New York. Crypto prices began to rally right after the news broke, as Cryptopolitan earlier reported that Bitcoin led the gains to […]
The United States is allegedly moving to freeze and take control of Bitcoin held by Venezuela after the capture of Nicolás Maduro, who is now facing narco-terrorism charges in a federal court in New York. Crypto prices began to rally right after the news broke, as Cryptopolitan earlier reported that Bitcoin led the gains to […]
XRP Surges Towards $2.20, Leading Monday Gains as Crypto ETF Flows Tilt in Its FavorXRP rebounds above $2.20 after a 17% weekly surge, supported by $483 million of ETF inflows versus $1.09 billion outflows for Bitcoin ETFs and a $564 million loss for Ethereum products, as traders watch $2.22 resistance and longer-range targets.
XRP rebounds above $2.20 after a 17% weekly surge, supported by $483 million of ETF inflows versus $1.09 billion outflows for Bitcoin ETFs and a $564 million loss for Ethereum products, as traders watch $2.22 resistance and longer-range targets.
Institutional buying of Bitcoin has surpassed miner supply, driven by renewed investment interest.
Silver (XAG/USD) builds on the previous day's positive move and gains strong follow-through traction for the second straight day on Tuesday.
Silver (XAG/USD) continues to rise parabolically, up more than 5%, trading above the $80.00 threshold a troy ounce, despite rising US Treasury yields and a strong US Dollar.
Related Instrument
