GBP/USD: dips are a buy  - Scotiabank

Analysts at Scotiabank explained that sterling rose to new cycle highs Friday versus the USD and continues to enjoy solid, technical support despite drifting back modestly from 1.31+ levels on the day so far. 

Key Quotes:

"We see firm support in the mid-1.30s and looks for strong support at 1.3030 on the day. 

Below here may see Cable ease back somewhat further but we think a bullish alignment of trend strength oscillators across short, medium and long-term time frames means minor GBP dips are a buy."

"EUR/GBP closed bearishly on the week Friday suggesting some scope for the pound to steady, or reverse, recent losses versus the EUR. Support here is 0.8750 on a daily close basis now."

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