GBP/USD: Underlying trend looks constructive, resistance seen at 1.2220 – Scotiabank
|GBP/USD finds firm support in low 1.21 region. Economists at Scotiabank expect the pair to continue trading on a solid foot.
Intraday support is 1.2085/95
“Fundamental news is thin on the ground and what little there is is not that encouraging (lower house prices, more strikes on the way), suggesting gains are perhaps more technically inspired than anything else today, at least.”
“The underlying trend in the Pound looks constructive – higher highs and higher lows on the daily chart – with Pound also supported by constructive trend momentum signals.”
“Intraday support is 1.2085/95. Resistance is 1.2220.”
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.