GBP/USD: sell at 1.2750/75 best? - Scotiabank

Ross J Burland FXStreet

Analysts at Scotiabank explained that comments from BoE economist Haldane that favoured removing some stimulus echoes the sentiment revealed by last week’s 5-3 split on holding policy unchanged at the BoE’s latest policy meeting.

Key Quotes:

"Intraday trends look a little more positive for the GBP, with Cable trading well off the early London lows. That suggests pretty firm support now in the low 1.26 area and scope for a squeeze back up to the mid/upper 1.27s. Broader trends are still tilted lower, however, and we think Cable gains to the 1.2750/75 range would attract better selling interest from a technical point of view

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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