- Analytics
- News and Tools
- Market News
- GBP/USD: Gains through strong resistance at 1.2425 would be more generally constructive – Scotiabank
GBP/USD: Gains through strong resistance at 1.2425 would be more generally constructive – Scotiabank
GBP/USD has found firm support in the low 1.23 zone over the past 24 hours. Economists at Scotiabank analyze the pair’s technical outlook.
Intraday performance looks solid
“Steady gains so far today suggest a mild improvement in its technical tone at least.”
“Short-term trend momentum is positive but that is overshadowed by bearish-leaning signals on the longer run studies. Still, the intraday performance looks solid and regaining the mid-1.23 area (formerly support) gives the technical tone a further (short-term, at least) lift.”
“Resistance is 1.2395/00 and (stronger) at 1.2425. Gains through the latter point would be more generally constructive.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
