GBP/USD: Technical signals point to further losses ahead towards 1.30 – Scotiabank

FXStreet Insights Team FXStreet

GBP/USD pressures the 1.33 level. In the view of economists at Scotiabank, the cable could fall as low as 1.30.

The 1.3350/55 range will stand as resistance

“The GBP’s slide from its failed break of 1.35 last week is on track to a test of 1.33.”

“The five-day losing streak in the pound has left it trading just shy of oversold in the RSI with the eventual move likely to prevent a test of 1.32 in the coming days if losses past 1.33 extend.”

“Technical signals are still pointing to further losses ahead toward 1.30.”

“The 1.3350/55 range will stand as resistance ahead of the 1.3380 zone and then the figure.”

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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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