GBP/USD will have to push on through 1.2710 to show some additional technical momentum – Scotiabank

FXStreet Insights Team FXStreet

GBP/USD is marginally firmer on the session. Economists at Scotiabank analyze the pair’s outlook.

Cable is showing signs of a pick up in bullish momentum

Sterling is registering a fifth, consecutive daily gain versus the USD and is showing signs of a pick up in bullish momentum on the intraday and daily studies. Last week’s peaks remain a block on near-term gains, however.

Cable will have to push on through 1.2710 to show some additional technical momentum and perhaps stretch gains to test the upper end of the broader 1.2525-1.2800 range in play.

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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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