GBP/USD appears neutral/bearish – Scotiabank

Pablo Piovano FXStreet

In opinion of FX Strategists at Scotiabank, Cable’s near term outlook remains tilted to the neutral/bearish side.

Key Quotes

“Sterling has drifted lower from the upper 1.34 zone over the past week and looks brittle from a longer-run technical point of view”.

“Intraday support has emerged at the lower boundary of the short-term downward channel just above the 1.33 area this morning, which may allow for a modest rebound”.

“We expect intraday resistance at 1.3350/60 though and reckon with losses below 1.3300 near-term pointing to losses picking up more quickly”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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