Flash: GBP/USD turning bearish? – Scotiabank

FXstreet.com (Edinburgh) - Chief Strategist at Scotiabank Camilla Sutton argued that this week UK releases would be key for the GBP/USD price action, although she sees signs of nascent bearishness around the sterling.

Key quotes

“A slew of data will lead into Thursday BoE decision, where we expect no change, leaving interest rates at 0.5% and the asset purchase program at £375bn”.

“Short-term technicals: mixed but like EUR, is turning more bearish. Support lies at the psychologically important 1.5800; while resistance is at Friday’s open of 1.6040”.