GBP/USD: A push through 1.3150 is likely in the short run – Scotiabank
|GBP/USD is edging higher, regaining the 1.31 area. Economists at Scotiabank analyze the pair’s outlook.
Sterling retains a comfortable yield advantage over the USD along the curve
Sterling retains a comfortable yield advantage over the USD along the curve which will cushion losses and keep the broader GBP tone positive.
After a couple of sessions of downward drift and consolidation, Cable is perking up again and breaking out – bullishly – from its short-term consolidation range (bull flag).
A push to/through 1.3150 is likely in the short run. Broader trends point to gains extending to 1.33.
Intraday support is 1.3075/80.
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