Back
26 Oct 2022
GBP/USD to extend its rally towards 1.20 on a break above 1.1605/20 – Scotiabank
Sterling is one of the better G10 currency performers on the day. Economists at Scotiabank expect the GBP/USD to return to the 1.20 area on a break past the 1.1605/20 zone.
Breaking and holding above 1.14 is a bullish medium-term signal
“Cable breaking and holding above 1.14 is a bullish medium-term signal for the pound.”
“We expect firm support on dips to the low 1.14s/high 1.13s from here.”
“GBP gains are stalling in the 1.16 zone today, however, extending gains through the 1.1605/10 zone targets a return to the 1.20 area for cable.”