GBP/USD: Key resistance at 1.2445/50 looks reachable in the near-term – Scotiabank
|GBP/USD strengthens to mid 1.23s. Cable should retain a firm undertone, in the view of economists at Scotiabank.
Bulls are in control
“The broader outlook remains positive – solid trend momentum and a steady run of higher highs and higher lows on the short-term chart that shows the bulls are in control.”
“Key resistance remains the recent peaks for the pound at 1.2445/50 but that looks reachable in the near-term.”
“Minor resistance stands at 1.2400. Support is 1.2295/00.”
See – GBP/USD: On course to retest and eventually break above the 1.2447/49 highs – Credit Suisse
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