Gains through 1.2860 would provide a little more upside momentum – Scotiabank

GBP/USD edges up from the 1.28 area. Economists at Scotiabank analyze the pair’s outlook.

Intraday patterns support the idea of stabilization around the 1.2800/20 zone

Sterling’s drift off the mid-July high looks to be steadying. After seven consecutive daily losses, the Pound is trading net higher on the day so far. 

Intraday patterns support the idea of stabilization – at least – around the 1.2800/20 zone. 

Gains through 1.2860 intraday would be positive and provide a little more upside momentum for the Pound.