GBP/USD: Gains through 1.2640/1.2650 resistance needed to give Cable an additional lift from here – Scotiabank
Source Fxstreet
Mar 28, 2024 12:17
GBP/USD holds support below 1.2600. Economists at Scotiabank analyze the pair’s outlook.
Cable based around 1.2590/1.2600
Markets continue to reflect the expectation that the BoE will hold off until August before easing. Rate expectations are perhaps providing the GBP with a bit of a cushion against the USD’s advance.
Sterling has rebounded modestly from the earlier session low. The GBP/USD pair based around 1.2590/1.2600, effectively a retest of the 200-Day Moving Average where Cable has found support in the recent past.
Gains through 1.2640/1.2650 resistance are needed to give the GBP an additional lift from here, however.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Related Articles
USD/CAD extends its losses for the second consecutive day, trading around 1.3640 during the Asian session on Friday.
The Canadian Dollar (CAD) spread on Thursday, giving a mixed performance and sticking close to familiar technical levels after US data printed in both directions early in the US market session.
Related Instrument