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
As of the Asian session on July 17, gold prices ( XAUUSD ) fluctuated around $4,000. However, it is worth noting that gold closed at $3,969.41 yesterday, confirming a break below the $4,0
TradingKey Daily Market Brief: Gold Falls Below $4,000, TSMC’s Strong Earnings Fail to Stop AI Trade Cooling, Chip Stocks Sold OffTracking Market TrendsTradingKey - On July 16, Eastern Time, the three major US stock indexes closed down collectively. Although US economic data performed robustly and the start of the Q2 earnings se
Tracking Market TrendsTradingKey - On July 16, Eastern Time, the three major US stock indexes closed down collectively. Although US economic data performed robustly and the start of the Q2 earnings se
After experiencing a wild surge following its initial listing, SK Hynix ( SKHY) ADR premium is rapidly unwinding. In US trading on Wednesday, July 15, SK Hynix ADRs closed down 9% at $176
Today’s Market Recap: Unexpected PPI Drop Boosts Markets, Apple Hits All-Time High, AI Hardware Stocks Remain Under Pressure, Micron, SanDisk SlumpOn July 15, Eastern Time, the three major US stock indexes closed higher for the second consecutive trading day. The unexpected decline in the US June PPI further st
On July 15, Eastern Time, the three major US stock indexes closed higher for the second consecutive trading day. The unexpected decline in the US June PPI further st
Gold Price Trend Forecast: Why Did Gold Prices Fall After US CPI Cooled? Fed Chair Speech and Iran Situation Become Obstacles As of the Asian trading session on July 15, gold ( XAUUSD) prices fell back to fluctuate near $4,030, erasing nearly all of the gains driven by yesterday's positive CPI data. Looking at t
As of the Asian trading session on July 15, gold ( XAUUSD) prices fell back to fluctuate near $4,030, erasing nearly all of the gains driven by yesterday's positive CPI data. Looking at t
Related Instrument
