• GBP/USD: Move above 1.3050 to clear the way towards 1.31 – Scotiabank

Market news

11 April 2022

GBP/USD: Move above 1.3050 to clear the way towards 1.31 – Scotiabank

GBP/USD is marginally stronger. Economists at Scotiabank believe that the pair could reach the 1.31 level if it manages to surpass the 1.3050 region.

Support after the 1.30 zone and does not come in until psychological mid-1.29s zone

“The GBP’s recovery from sub-1.30 stopped in the mid-1.30s that will continue to act as resistance with limited obvious resistance markers between this zone and the 1.31 area.” 

“Support after the 1.30 zone and ~1.2980 does not come in until psychological support at the mid-1.29s and more clearly at the 1.29 figure area.”

 

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.