GBP/USD: Door open for the GBP to regain 1.23 in the short run – Scotiabank GBPUSD Banks
GBP/USD inches higher from the 1.22 support zone. Economists at Scotiabank believe that the pair could surge above the 1.23 level.“Retests of 1.22 over the past few sessions have generated solid gains and while short-term trend dynamics are soft, they are leaning GBP-bullish. That leaves the door open for the GBP to regain 1.23+ in the short run. However, the intraday chart does reveal a potential weakness – a possible Head & Shoulders top whose neckline trigger falls right on the 1.22.
“Near-term weakness below the 1.22 region would imply GBP losses back to the 1.2075 zone in the next 1-3 days.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD can reach 1.2500 this quarter, EUR/GBP should move back to 0.8900 – INGToday and tomorrow, we will hear from Bank of England Governor Andrew Bailey. However, the Pound should rapidly default to being driven by external fa
Read more »
Pairs in Focus This Week \u2013 EUR/USD, Gold, GBP/USD, USD/JPYGet the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of March 26th, 2022 here.
Read more »
GBP/USD: Weekly Forecast 26th March - 1st AprilThe GBPUSD turned in a choppy week of results as trading within the currency pair reflected the nervous behavioral sentiment being generated in the broad marketplace- trading forextrading
Read more »
GBP/USD bulls poke 1.2250 with eyes on BoE’s Bailey, Fed’s preferred inflation gaugeGBP/USD begins the week on a positive footing, renewing its intraday high near 1.2250 while extending the previous two-week uptrend, as fears of US re
Read more »
GBP/USD surrenders gains as US promises expansion of financial support to mid-size banksGBP/USD surrendered gains as US promises expansion of financial support to mid-size banks – by Sagar_Dua24 GBPUSD Fed BOE Inflation DollarIndex
Read more »
GBP/USD Price Analysis: Extends bounce off 200-HMA to pierce immediate hurdle above 1.2200GBP/USD Price Analysis: Extends bounce off 200-HMA to pierce immediate hurdle above 1.2200 GBPUSD Technical Analysis ChartPatterns SwingTrading SupportResistance
Read more »