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GBP/USD destined to the downside? - Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Analysts at Scotiabank explained that cable looks soft; intraday gains topped out at 1.4840 three times overnight and the push lower in spot subsequently suggests GBP/USD is vulnerable to a further push lower.

    Key Quotes:

    "The market has – just – held on to support at 1.4805/10 over the past two days but weakness below 1.48 on a sustained basis (intraday) would point to further weakness towards 1.4650."
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