Forex News

15:13:25 28-03-2023

GBP/USD: Gains through 1.2340 target a retest of the mid 1.24s Scotiabank

Cable dipped in European trade but found firm support on weakness to the upper 1.22s. Economists at Scotiabank expect GBP/USD to test the mid 1.24s on a break past 1.2340.

Firm trend persists

Short-term trends suggest firm resistance in the 1.2330/40 zone but there is a fair degree of GBP-bullish momentum under this market and firm support under Cable in the 1.2255/60 zone. 

Gains through 1.2340 target a retest of the mid 1.24s.

See: GBP/USD can head towards the key 1.2426 December high and 1.2500 resistances ING

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