GBP/USD: Deeper rebound through 1.2190/1.2200 resistance needed to secure gains towards 1.23 – Scotiabank
|Sterling is weaker but has rebounded a little from the earlier session low. Economists at Scotiabank analyze Cable’s outlook.
Potential turn higher in the Pound
Sterling looks soft but the GBP/USD pair has once again found firm support on dips below 1.21.
GBP gains off the low Thursday set a daily ‘doji’ candle on the candle chart, suggesting a potential turn higher in the Pound.
A deeper rebound through 1.2190/1.2200 resistance is needed to secure gains towards 1.23 from a technical point of view, however.
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