GBP/USD can push a little higher in the short run to retest the low 1.2700 area – Scotiabank
Source Fxstreet
GBP/USD stretches its upside. Economists at Scotiabank analyze the pair’s outlook.
Clear and sustained push through 1.2710 should see gains extend a little more
Solid gains in Cable Friday suggest spot can push a little higher in the short run to retest the low 1.2700 area. But the broader backdrop for the Pound remains somewhat challenged by weak or bearish leaning trend oscillators on the intraday and daily DMI signals.
A clear and sustained push through 1.2710 should see gains extend a little more towards the recent range highs at 1.2775/1.2800.
Support is firm now at 1.2600/1.2610.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
On Friday, September 11 (ET), the U.S. Bureau of Labor Statistics will release the Consumer Price Index (CPI) for August, the final major inflation report before the Federal Reserve's Sep
Brent holds above $100 as tanker attacks tighten supply — but four forces are capping the rallyBrent crude is holding above $100 a barrel for a second session, its first close above the level since late July, as tanker attacks near the Strait of Hormuz squeeze an already tight physical market. Yet the rally has been gradual: 8.3 mb/d of Gulf output is still shut in, diesel is at a record, and forecasts now range from $74 to $100.
Brent crude is holding above $100 a barrel for a second session, its first close above the level since late July, as tanker attacks near the Strait of Hormuz squeeze an already tight physical market. Yet the rally has been gradual: 8.3 mb/d of Gulf output is still shut in, diesel is at a record, and forecasts now range from $74 to $100.
Over 140,000 traders liquidated in crypto market as BTC drops for fourth straight day to test $78,000 level; altcoins crash.On September 10, the cryptocurrency market experienced a new ro
The U.S. Bureau of Labor Statistics will release the August Producer Price Index (PPI) at 8:30 a.m. ET on September 10. Against the backdrop of U.S. August non-farm payrolls significantly
On September 9, Brent crude futures broke above $100 per barrel intraday, crossing this threshold for the first time since July 24. As the military conflict between the US and Iran contin
Related Instrument
