GBP/USD: Flat range but undertone remains soft – Scotiabank
Source Fxstreet
The Pound Sterling (GBP) is trading marginally lower on the day, reflecting the generally soft tone of the major currencies against the USD, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
GBP consolidates in tight
“GBP is trading a bit lower on the day. GBP snap higher in the cross last week as bargain hunters fade EURGBP gains to the 0.84 area.”
“Cable is carving out a flat consolidation range on the intraday chart between 1.3060/1.3110. That is helping stabilize short-term trends but the broader undertone in GBPUSD remains negative, with a test of 1.30 support the main risk ahead.”
“Weakness below 1.30 on a sustained basis would increase chances of a deeper drop back to 1.27/1.28.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Solana Price Forecast: ETF Demand and Derivatives Flows Fuel a Sharper ReboundSolana (SOL) trades above $140 after a 10% daily jump, as ETF inflows flip positive, futures open interest climbs 6.75% and on-chain TVL and stablecoin liquidity rise, setting up a potential double-bottom breakout toward the 50-day EMA at $158 if SOL can secure a daily close above $145.
Solana (SOL) trades above $140 after a 10% daily jump, as ETF inflows flip positive, futures open interest climbs 6.75% and on-chain TVL and stablecoin liquidity rise, setting up a potential double-bottom breakout toward the 50-day EMA at $158 if SOL can secure a daily close above $145.
The Federal Reserve injected $13.5 billion into the banking system, signaling a significant liquidity boost for Bitcoin and risk assets, rivaling levels from the COVID-19 era.
The Australian Dollar (AUD) reverses dismal domestic data-led intraday downtick and touches a fresh three-week high against a weaker US Dollar (USD) during the Asian session on Wednesday.
1. IntroductionOver the past month, investors' expectations for a Federal Reserve interest rate cut in December first cooled and then reignited. These fluctuating expectations have directly triggered
Avalanche Coils for a Big Move as Wolfe Wave Pattern TightensAvalanche (AVAX) is trading near $13.06 as a Wolfe Wave pattern and key weekly trendline converge, with BeLaunch eyeing a $11–$8 accumulation zone and drawing parallels to the September 2023 setup — a combination that suggests a major breakout could be approaching once the current coil finally snaps.
Avalanche (AVAX) is trading near $13.06 as a Wolfe Wave pattern and key weekly trendline converge, with BeLaunch eyeing a $11–$8 accumulation zone and drawing parallels to the September 2023 setup — a combination that suggests a major breakout could be approaching once the current coil finally snaps.
