GBP tracks broader move against the USD among majors – Scotiabank
|Pound Sterling (GBP) is moderately firmer but, in the absence of any major news at home, the pound’s performance reflects broader USD weakness more than anything, Scotiabank's Chief FX Strategist Shaun Osborne notes.
GBP is firmer on the day
"Cable gains have extended through the low 1.27s to reach a new high for the current move up, however, suggesting decent momentum is developing behind the gains."
"GBP gains are extending through the low 1.27s to the highest since early December. Sterling gains since the start of the year have developed solid bullish momentum and look set to push on towards 1.28 (200- day MA at 1.2786). Support is 1.2715 and 1.2675/80."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.