GBP/USD to retest key support at 1.2600 on a break below 1.2660/1.2665 – Scotiabank
Source Fxstreet
GBP/USD remains broadly rangebound. Economists at Scotiabank analyze Cable’s outlook.
The 1.2600/1.2825 range may endure for now
The GBP is trading with a softer undertone intraday after peaking around 1.2720 twice in the past 24 hours.
Short-term trend oscillators are bearish which may help drive spot to test support at 1.2660/1.2665. A break below here should see Cable retest the broader range low and key support at 1.2600.
Very weak longer run trend studies suggest the 1.2600/1.2825 range may endure for now, however.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold Drops Below $4,300 Erasing Year-to-Date Gains. This Week’s CPI May Ignite Rate Hike Expectations Will Gold Still Rise in 2026?During Monday's Asian session, both spot and futures gold prices fell below the $4,300/oz support level. Spot gold touched an intraday low of $4,268.42, its lowest level since March 23, e
During Monday's Asian session, both spot and futures gold prices fell below the $4,300/oz support level. Spot gold touched an intraday low of $4,268.42, its lowest level since March 23, e
After days of steep downward movement, the price of Bitcoin appears to have found a somewhat reliable anchor around the $60,000 region. However, recent on-chain data suggests that the premier
During the Asian trading session on June 5, Bitcoin extended its recent slump, falling more than 3.5% within 24 hours. It briefly broke below $62,000, hitting a low of $61,100, bringing i
Gold declines below $4,500 on stalled US-Iran ceasefire talks, US NFP data loomsGold price (XAU/USD) edges lower to near $4,470 during the early Asian session on Friday. The precious metal remains volatile amid ongoing geopolitical turmoil. Traders will closely monitor the developments surrounding the US-Iran peace deal and the US May employment report later on Friday.
Gold price (XAU/USD) edges lower to near $4,470 during the early Asian session on Friday. The precious metal remains volatile amid ongoing geopolitical turmoil. Traders will closely monitor the developments surrounding the US-Iran peace deal and the US May employment report later on Friday.
During the Asian trading session on June 4, Bitcoin continued its multi-day slump, briefly dropping below the $62,000 mark to $61,338. As of press time, Bitcoin was trading at $63,844, wi
Related Instrument
