GBP/USD: Gains through 1.2865 to put Cable on track to retest the 1.30 area – Scotiabank

Market news

31 July 2023

GBP/USD: Gains through 1.2865 to put Cable on track to retest the 1.30 area – Scotiabank

GBP/USD holds modest rebound. Economists at Scotiabank analyze the pair’s technical outlook.

Support seen at 1.2820/25

Sterling has recovered about half of last week’s late sell-off and is consolidating that advance in a tight range.

Cable gains through 1.2865 should see some additional strengthening in the short run at least and put the Pound on track to retest the 1.30 area.

Support is 1.2820/25.

See – GBP/USD: Scope for a deeper setback to the 55-DMA at 1.2676, but with support expected here – Credit Suisse

Brent Crude Oil to witness a short-term up move towards April high of $87.50 – SocGen

US Dollar holds steady to start the week full of important data releases

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