GBP/USD: Still trading well short of levels that would imply more sustainable technical strength – Scotiabank

Market news

26 June 2023

GBP/USD: Still trading well short of levels that would imply more sustainable technical strength – Scotiabank

GBP/USD is supported on dips but still consolidating, economists at Scotiabank report.

Signs of demand below 1.26 are encouraging from a short-term support point of view

Minor Cable gains today are running against the trend of a modestly weaker Pound from its mid-June peak.

GBP/USD is still consolidating in effect and while signs of demand below 1.26 are encouraging from a short-term support point of view, the Pound is still trading well short of levels that would imply more, sustainable technical strength (above 1.2850).

Currencies. Daily history for Monday, June 26, 2023

Commodities. Daily history for Friday, June 23, 2023

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

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.