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
Gold selling pressure persists as traders lock in profits ahead of US NFP reportGold (XAU/USD) remains under some selling pressure for the second straight day and slides back closer to the overnight swing low during the Asian session on Thursday. The downtick lacks any fundamental catalyst and is likely to remain limited amid a supportive fundamental backdrop.
Gold (XAU/USD) remains under some selling pressure for the second straight day and slides back closer to the overnight swing low during the Asian session on Thursday. The downtick lacks any fundamental catalyst and is likely to remain limited amid a supportive fundamental backdrop.
BTC holds above $90,000, ETH hovers near $3,128 at the 50-day EMA, and XRP steadies above $2.07 as traders weigh rebound targets and key downside levels.
Solana Future: From high-speed experiment to corporate treasury playbook for the next SOL cycleSolana’s Proof of History architecture is colliding with rising institutional treasury adoption and governance scrutiny, with SOL’s next cycle hinging on validator distribution, stability, and regulated capital access.
Solana’s Proof of History architecture is colliding with rising institutional treasury adoption and governance scrutiny, with SOL’s next cycle hinging on validator distribution, stability, and regulated capital access.
The USD/JPY pair trades in positive territory near 158.10 during the early Asian session on Tuesday. The Japanese Yen (JPY) softens against the US Dollar (USD) amid political concerns in Japan.
DOGE steadies near $0.1350 above $0.1332 support, SHIB holds the 50-day EMA at $0.00000834, and PEPE stays above $0.00000500 as momentum signals warn of further downside.
Related Instrument
