GBP/USD holds last week’s range in quiet trade – Scotiabank
Source Fxstreet
The Pound Sterling (GBP) is up modestly on the day versus a generally softer USD, Scotiabank's Chief FX Strategist Shaun Osborne notes.
GBP/USD modestly firmer
"The UK, like everyone else, is waiting to see what emerges from the early days of the new Trump term on trade. The US is a key export market for the UK but trade flows are strongly services-oriented which may leave the UK a little less susceptible to tariff action."
"Cable is holding last week’s trading range. Intraday price action suggests good support on dips to the upper 1.21 area and broader price action last week suggested the GBP decline may have stalled. A positive week for the GBP this week will lift prospects for a push back towards 1.23/1.24."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?
Crypto analyst Scott Melker identifies a prime risk/reward setup for XRP as it tests key support at $1.60, offering a tight stop-loss against potential upside targets near $2.00.
Bitcoin’s two-year rolling MVRV z-score has dropped to its lowest level ever, pointing to extreme undervaluation.
Gold (XAU/USD) attracts follow-through buying for the second consecutive day and surges past the $5,000 psychological mark during the Asian session on Wednesday amid the global flight to safety.
Related Instrument
