GBP/USD is a Fade Back to 1.4350 - Scotiabank

GBP/USD is a Fade Back to 1.4350 - Scotiabank

17 May 2016, 18:16
Roberto Jacobs
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GBP/USD is a Fade Back to 1.4350 - Scotiabank

Analysts at Scotiabank explained the technical conditions surround GBP/USD.

Key Quotes:

"Cable’s rebound stalled in the low 1.45 area earlier, where the last two Cable rallies have failed."

"GBP gains still look to be a fade from our perspective, given the negative daily and weekly price action registered on the charts recently."

"We look for GBP/USD to ease back to the mid/upper 1.43 area (40-day MA at 1.4350) below there."


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