- Analytics
- News and Tools
- Market News
- GBP extends gains through upper 1.25s – Scotiabank
GBP extends gains through upper 1.25s – Scotiabank
Pound Sterling (GBP) is up modestly vs US Dollar (USD) on the session at writing after backing off slightly from the overnight peak just shy of 1.26—its highest level since the end of last year, Scotiabank's Chief FX Strategist Shaun Osborne notes.
GBP nears key 1.2610 resistance
"GBP is up a solid 1.4% on the week, lagging only the SEK among the major currencies. The UK’s trade position with the US—it runs a small bilateral deficit, with the only trade advantage for the UK coming in services—gives the pound some plot armour in the still developing tariff story. The BoE stressing a cautious approach to the policy outlook has been helpful over the past week as well."
"GBP/USD price action is constructive. Spot is trading at a YTD high this morning, with the late December peak at 1.2607 coinciding with the 38.2% retracement of the late 2024 sell-off in Cable at 1.2610. A push through the low 1.26s should pave the way for additional gains to the mid-1.27s. Support is 1.2550 intraday."
© 2000-2025. 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
