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- GBP/USD needs to regain and hold 1.2290/00 to ignite more buying interest – Scotiabank
GBP/USD needs to regain and hold 1.2290/00 to ignite more buying interest – Scotiabank
Sterling is firmer. Economists at Scotiabank note that the outlook for the GBP is positive.
Short-term momentum signals are bullish
“The solid rebound in the Pound from sub-1.19 levels last week cast a positive look to the charts and suggests that the corrective losses from the mid-1.24 zone is complete. Spot needs to regain and hold 1.2290/00 in order to ignite more buying interest, however.”
“Short-term momentum signals are bullish, which support the positive outlook for the Pound and should help limit losses.”
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