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GBP/USD TO HEAD HIGHER TOWARD 1.2525 ON A RISE ABOVE 1.2455 – SCOTIABANK

Alan xi
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The GBP/USD pair is marginally firmer on the day. Economists at Scotiabank analyze the Cable’s outlook.

Directional risks are tilted to the topside

The overall pattern of short-term trade remains constructive and the broader technical setups still suggest directional risks are tilted to the topside. 

GBP/USD is effectively consolidating within a bull pennant pattern. 

Firm support on GBP dips at 1.2375 this week is keeping the undertone bullish.

Gains through 1.2420/1.2425 should be GBP-supportive.


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