GBP/USD: TECHNICAL MOMENTUM IS ACCUMULATING BEARISHLY FOR THE POUND STERLING – SCOTIABANK
GBP/USD is soft but off earlier lows. Economists Scotiabank analyze the pair’s outlook.
Soft undertone on the charts
Sterling traded heavily on Tuesday and retains a weak undertone today.
Technical momentum is accumulating bearishly for the GBP on the intraday and daily oscillators. Sterling has not made a new low against the USD on this move down, however – in contrast to many of its peers.
The early February low at 1.2519 remains intact and a grouping of support points around the 1.2500 zone suggests USD gains may be held up for now.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.