GBP/USD destined to the downside? – Scotiabank

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.”

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.

(Market News Provided by FXstreet)