- Analytics
- News and Tools
- Market News
- GBP/USD: Dips to the low/mid 1.2700 area should find firm support – Scotiabank
GBP/USD: Dips to the low/mid 1.2700 area should find firm support – Scotiabank
GBP/USD trades slightly lower. Economists at Scotiabank analyze the pair’s outlook.
The GBP rise appears to have stalled
Spot gains extended through the low 1.2700 area on Wednesday to lift the near-term technical tone for the GBP. But the GBP rise appears to have stalled – and may be reversing – from the test of 1.2800.
Intraday candle patterns suggest a minor top may have formed through European trade. GBP dips to the low/mid 1.2700 area should find firm support, however.
Resistance is 1.2810, ahead of a return to the 1.2900 zone.
© 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
