GBP/USD: Scope for significant weakness looks limited – Scotiabank
Source Fxstreet
GBP/USD is little changed after pivoting narrowly around the 1.2600 level. Economists at Scotiabank analyze the pair’s outlook.
GBP pivots around mid-point of its recent trading range
Cable is trading about midway between recent range extremes (1.2525/1.2685).
Broader price trends are tilting somewhat bearish and trend momentum signals are supporting the soft undertone in price action. Recent Sterling losses towards 1.2500 have attracted better demand, however, and scope for significant GBP weakness looks limited in the context of some softening in the broader USD trend.
Look for more range trading for now.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
JPMorgan analysts claim that crypto-native investors largely drove the crypto market dip last week, while institutional products felt a minor impact.
Gold Price Forecast: XAU/USD jumps above $4,350 on US-Venezuela tensions Gold price (XAU/USD) climbs to around $4,370 during the early Asian trading hours on Monday. The precious metal extends its upside amid a renewed surge in geopolitical risk after the United States' (US) capture of Venezuelan President Nicolas Maduro.
Gold price (XAU/USD) climbs to around $4,370 during the early Asian trading hours on Monday. The precious metal extends its upside amid a renewed surge in geopolitical risk after the United States' (US) capture of Venezuelan President Nicolas Maduro.
Gold price (XAU/USD) rebounds to around $4,120 during the early Asian session on Friday. The precious metal edges higher as traders weigh a resumption of war in the Middle East.
West Texas Intermediate (WTI) oil price rises after two days of losses, trading around $74.20 during the Asian hours on Monday.
Gold (XAU/USD) opens with a modest bearish gap at the start of a new week and slides back closer to the $4,050 level during the Asian session.
Related Instrument
