GBP/USD: The 1.28 level stands as the next clear target – Scotiabank
|GBP/USD crashes through 1.30 and 1.29. Economists at Scotiabank expect cable to extend its slump towards the 1.28 level.
Psychological resistance stands at the mid -1.29s
“The pound’s multiple tests of 1.30 finally managed to break under the figure today and the 1.28 level now stands as the next clear target in its negative trend extending back to last summer.”
“The intraday low of 1.2862 is support after the 1.29 area.”
“Psychological resistance stands at the mid -1.29s followed by the 1.30 zone.”
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.