GBP/USD advances through low 1.29s. Economists at Scotiabank analyze the pair’s technical outlook.
Solid gains on the day so far add to the recent strengthening in the GBP bull tone.
There is a clear run ahead though to the 1.33 zone (some resistance may develop around the 1.30 point).
Trend momentum is solidly bullish across a range of time frames.
Minor dips remain a buy.
See: GBP/USD looks set to extend to 1.30 in this soft Dollar environment – ING