GBP/USD: Gains through 1.2675/1.2685 should be positive – Scotiabank

GBP/USD nudges lower. Economists at Scotiabank analyze the pair’s outlook.

Losses through 1.2520/1.2525 turn the picture more negative

The GBP/USD pair has drifted back from the mid/upper 1.2600s where recent gains have peaked but a mild, short-term uptrend remains intact. 

The broader picture reflects a wide, flat range trade which means the Pound Sterling has a lot of work to do to show some real technical strength. 

Gains through 1.2675/1.2685 should be positive. 

Losses through the 1.2520/1.2525 zone turn the picture more negative.