GBP/USD has a chance to rally a bit more – Scotiabank

Market news

13 June 2023

GBP/USD has a chance to rally a bit more – Scotiabank

The GBP is firm in the session, rebounding sharply from yesterday’s heavy fall. Economists at Scotiabank analyze GBP/USD technical outlook.

Trend signals are choppy but lean GBP-bullish

Monday’s price action formed a bearish reversal signal (outside range day) so GBP gains will need to extend beyond 1.26 to better yesterday’s high in order to extend or risk dropping back again.

Trend signals are choppy but lean GBP-bullish which suggests the Pound has a chance to rally a bit more.

See – GBP/USD: Hard to buck the bullish Sterling trend in the near term – ING

Currencies. Daily history for Tuesday, June 13, 2023

Commodities. Daily history for Monday, June 12, 2023

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