GBP/USD: Bulls are testing the area around 1.2860 – Scotiabank
Source Fxstreet
The Pound Sterling (GBP) is unchanged on the session, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
GBP needs to extend above 1.2890 to gain momentum
“There were no UK data reports today and the pound has been left idling in a range in the mid-1.28s against the USD in very quiet trade.”
“Cable’s steady drift from the July 17th peak at 1.3044 is showing signs of reversing. A bullish daily close for the GBP yesterday supports the idea that the GBP has run its course for now.”
“Spot is testing trend resistance off the mid-July high at 1.2860 this morning but the GBP may need to extend above 1.2890 to really gain momentum intraday. Support should be firm now on dips to the low 1.28s.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
As US-Iran talks and non-farm payrolls approach, Bitcoin's range-bound trend is set to break, with a potential drop to $50,000.On June 30, Bitcoin ( BTC) remained volatile near $60,000, u
June Non-Farm Payrolls Preview: Did White House Economic Advisor Give an Early Hint? How Will US Stocks, Dollar and Gold React? As June draws to a close, market attention is shifting to the upcoming U.S. June nonfarm payrolls report to be released this Thursday (July 2). This month's nonfarm payrolls data has been
As June draws to a close, market attention is shifting to the upcoming U.S. June nonfarm payrolls report to be released this Thursday (July 2). This month's nonfarm payrolls data has been
Japan’s Kihara: Always ready to take necessary action on forexJapan’s Chief Cabinet Secretary Minoru Kihara reiterated during a regularly scheduled press conference this Tuesday that officials he is always ready to take necessary action on forex. Kihara, however, refrained from commenting on specific forex level.
Japan’s Chief Cabinet Secretary Minoru Kihara reiterated during a regularly scheduled press conference this Tuesday that officials he is always ready to take necessary action on forex. Kihara, however, refrained from commenting on specific forex level.
Gold Price Forecast: Does Gold Falling Below $4,000 Mean the Bull Market Is Over? Will It Still Rise in the Second Half of 2026?Heading into the second half of 2026, the gold market has transitioned from a strong-performing asset at the start of the year into one pulling back from its highs. Recently, gold prices
Heading into the second half of 2026, the gold market has transitioned from a strong-performing asset at the start of the year into one pulling back from its highs. Recently, gold prices
As of the European session on June 29, WTI crude oil ( USOIL) prices fluctuated and weakened near $70.00. From a market perspective, affected by renewed clashes between the US and Iran, o
Related Instrument
