GBP/USD: Still trading well short of levels that would imply more sustainable technical strength – Scotiabank

FXStreet Insights Team FXStreet

GBP/USD is supported on dips but still consolidating, economists at Scotiabank report.

Signs of demand below 1.26 are encouraging from a short-term support point of view

Minor Cable gains today are running against the trend of a modestly weaker Pound from its mid-June peak.

GBP/USD is still consolidating in effect and while signs of demand below 1.26 are encouraging from a short-term support point of view, the Pound is still trading well short of levels that would imply more, sustainable technical strength (above 1.2850).

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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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