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
April 2026 NFP forecast 62K–70K vs March 178K. Unemployment expected 4.3%. Fed on hold at 3.50–3.75% with Kevin Warsh as new chair. DXY triple-bottom at $97.69. Trade setup inside.The Apr
West Texas Intermediate (WTI) oil price loses ground after registering modest gains in the previous day, trading around $93.70 per barrel during the Asian hours on Friday.
WTI crude oil futures settled at $96.21 per barrel on May 6, plunging 6.3% to close below $100 for the first time in six days, marking the largest single-day decline since March 17. Brent
Bitcoin jumps to three-month high as US–Iran talks unwind oil risk premiumGlobal markets moved sharply on Wednesday as signs of progress in US–Iran negotiations triggered a rapid unwind of war-driven positions, dragging oil prices lower while lifting equities and cryptocurrencies. Bitcoin climbed above $81,000, its highest level in three months, while Brent crude fell roughly 11% to around $98 per barrel. The S&P 500 rose 0.85%...
Global markets moved sharply on Wednesday as signs of progress in US–Iran negotiations triggered a rapid unwind of war-driven positions, dragging oil prices lower while lifting equities and cryptocurrencies. Bitcoin climbed above $81,000, its highest level in three months, while Brent crude fell roughly 11% to around $98 per barrel. The S&P 500 rose 0.85%...
WTI Crude Falls Over 13% Below $90. US and Iran to Reach Truce Memorandum but Crude Supply Difficult to Recover in Short TermBefore the market opened on May 5, international crude oil losses widened, WTI crude oil futures plummeted below $90 at one point, hitting a low of $88.71, the first time since April 21,
Before the market opened on May 5, international crude oil losses widened, WTI crude oil futures plummeted below $90 at one point, hitting a low of $88.71, the first time since April 21,
Related Instrument
