GBP/USD support holds ahead of 1.28. Economists at Scotiabank analyze the pair’s technical outlook.
GBP losses are slowing near 1.28
Sterling retains a soft undertone but the pattern of trade here does look – potentially – a little more constructive.
GBP losses are slowing near 1.28 and the intraday charts are clearly showing signs of interest in picking up Cable ahead of the figure area today – and late last week.
Minor resistance is 1.2900/10. Gains back through here on the day would be modestly positive at least and help stop the rot of the past week’s steady losses.
Source: https://www.fxstreet.com/news/gbp-usd-gains-back-through-12900-10-would-help-stop-the-rot-of-the-past-weeks-steady-losses-scotiabank-202307241126