GBP/USD is modestly lower on the session. Economists at Scotiabank analyze the pair’s outlook.
Daily and weekly signals continue to flash bullish
Sterling sits more or less mid-way between key support at 1.2600/1.2610 and resistance at 1.2830.
Trend momentum is tilting bearish on the intraday study but the signal is weak.
Daily and weekly signals continue to flash bullish, which complicates the near-term outlook and perpetuates the range trade outlook for now.
See – UK: Further evidence of disinflation would weaken the GBP – MUFG
Source: https://www.fxstreet.com/news/gbp-usd-range-trade-outlook-for-now-scotiabank-202401151259