GBP underperforms versus USD – Scotiabank

FXStreet Insights Team FXStreet

Pound Sterling (GBP) is a moderate underperformer on the session so far, falling 0.1% against the US Dollar (USD) at writing after giving up early gains through the upper 1.33s in Asian trade.

Gains stall around 1.3370

"There is no major news behind the GBP’s drift. EURGBP gains through the late September high around 0.8750 may have compounded pressure on the pound somewhat, leaving the cross just shy of the July high around 0.8770."

"The GBP’s soft performance on the session casts a bit of a pall over near-term technical prospects and bolsters short -term GBP resistance at 1.3370. Friday’s low at 1.3288 now represents key short-term support, with GBP losses liable to extend below here."

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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