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.
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AUD/USD holds ground near 0.6700 due to cautious RBA toneAUD/USD moves little after two days of gains, hovering around 0.6700 during the Asian hours on Friday. The pair steadies as the Australian Dollar (AUD) receives support amid cautious sentiment surrounding the Reserve Bank of Australia’s (RBA) policy outlook.
AUD/USD moves little after two days of gains, hovering around 0.6700 during the Asian hours on Friday. The pair steadies as the Australian Dollar (AUD) receives support amid cautious sentiment surrounding the Reserve Bank of Australia’s (RBA) policy outlook.
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