GBP/USD Points Southwards – Scotiabank
Eric Theoret, FX Strategist at Scotiabank, sees the Sterling keeping its neutral/bearish stance in the near-term.
“GBPUSD remains range-bound between short-term resistance at 1.4420 and support at 1.4350”.
“The market continues to pivot broadly around the 40-day MA (1.4217) in a wider 1.40/1.44 range. With the market at the upper end of the short-term consolidation band, we think risks are pointed lower; low for GBPUSD to slip back under 1.43 in the event of a break of support at 1.4350”.