GBP/USD: Clear move above 1.2380 to target 1.25 and, potentially, a move on to 1.28/1.30 range – Scotiabank
|Cable gains are extending to near 1.23. A sustained move above 1.2380 would clear the way toward 1.25, then a potential move on to the 1.28/30 range, econmomists at Scotiabank report.
Firm and developing momentum under the GBP
“Short-term oscillators indicate firm and developing momentum under the GBP.”
“Consolidation resistance, stemming from the sideways channel that has developed since the turn of the year, stands at 1.2380. A clear move above here targets 1.25 and, potentially, a move on to the 1.28/1.30 range.”
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