GBP/USD: Regaining 1.27 is critical to show some sustainable technical strength from here – Scotiabank

Market news

29 June 2023

GBP/USD: Regaining 1.27 is critical to show some sustainable technical strength from here – Scotiabank

Sterling is showing signs of stabilizing after yesterday’s slide under 1.27. Economists at Scotiabank analyze GBP/USD technical outlook.

Gains are not yet significant enough to exclude renewed softness

Sterling gains from the 1.26 zone are picking up a little more momentum above 1.2650 intraday but gains are not yet significant enough to exclude the risk that the rebound represents a consolidation ahead of renewed softness.

Regaining 1.27 is the benchmark the Pound will have to beat to show some sustainable technical strength from here.

Currencies. Daily history for Thursday, June 29, 2023

Commodities. Daily history for Wednesday, June 28, 2023

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