GBP/USD TO EXTEND ITS RACE HIGHER TOWARDS 1.23 – SCOTIABANK
GBP/USD regains 1.22. Economists at Scotiabank analyze the pair’s outlook.
Technical rebound gathers momentum
Sterling’s solid rebound from its mid-week low via a big, bullish key reversal/outside range signal has extended a little further to reach the low 1.22s.
Late day gains on Thursday through 1.2175/80 added to the GBP’s bullish credentials on the short-term charts and supported the case for some additional progress in the near term towards the 1.23 level.
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