A clear move above 1.2610 would give the Pound a bit more technical support – Scotiabank

GBP/USD holds range below 1.2610. Economists at Scotiabank analyze the pair’s outlook.

Support at 1.2530 looks firm on the long-term chart

Cable put in a solid gain on the daily chart on Thursday but has not been able to extend that rebound today. 

Sterling support at 1.2530 looks firm on the long-term chart now but Cable is still nursing a net loss on the week and spot has struggled to hold minor gains on the session. 

A clear move above 1.2610 would give the Pound a bit more technical support and put the GBP/USD pair on course for gains towards the mid/upper 1.2600s.