GBP/USD: More choppy range trade is likely in the short run – Scotiabank
Source Fxstreet
GBP/USD holds neutral 1.2600/1.2700 range. Economists at Scotiabank analyze the pair’s outlook.
Cable will have to move significantly from current levels to boost directional momentum
Cable’s sideways range trade over the past few months leaves short, medium and long-term DMI studies all sitting at weak and neutral levels. That suggests spot will have to move significantly from current levels to boost directional momentum.
More choppy range trade is likely in the short run as the market seeks a stronger sense of direction.
Support is 1.2600/1.2615. Resistance is 1.2700/1.2715.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Brent slips to $111 as a two-day Hormuz plan lands — the supply-risk premium is the only thing being soldBrent fell 1.95% to $111.20 and WTI to $101.92 after Iran's foreign minister said a Qatar-brokered plan could reopen the Strait of Hormuz in two days. Two tankers were still reported hit by mines. The move is a premium unwind, not a supply change.
Brent fell 1.95% to $111.20 and WTI to $101.92 after Iran's foreign minister said a Qatar-brokered plan could reopen the Strait of Hormuz in two days. Two tankers were still reported hit by mines. The move is a premium unwind, not a supply change.
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 4, 2026. Read on for the details.
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 5, 2026. Read on for the details.
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 6, 2026. Read on for the details.
Gold's $250 week runs into the last payrolls before DecemberSpot gold traded at $4,080.79 after a roughly 6% weekly rally from the Oct 30 low of $3,869.85, touching $4,146.63 on Nov 5. Three bids are stacked into the move: real-rate relief, record official-sector buying, and a geopolitical premium. Tonight's October payrolls (+65K consensus, 4.2% unemployment) decide which bid survives, with $4,000 and $4,200 as the two lines.
Spot gold traded at $4,080.79 after a roughly 6% weekly rally from the Oct 30 low of $3,869.85, touching $4,146.63 on Nov 5. Three bids are stacked into the move: real-rate relief, record official-sector buying, and a geopolitical premium. Tonight's October payrolls (+65K consensus, 4.2% unemployment) decide which bid survives, with $4,000 and $4,200 as the two lines.
Related Instrument
