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18 Jan 2024

GBP/USD: Rebound is showing signs of petering out in the low-1.2700s – Scotiabank

Cable’s rebound from 1.2600 on Wednesday extends range trade. Economists at Scotiabank analyze the GBP/USD outlook.

Selling pressure merging above 1.2700

Wednesday’s squeeze higher in the Pound perpetuates the broader sideways range in Cable for a little longer.

The GBP’s bullish reaction to Wednesday’s test of the 1.2600 range base in place over the past month is showing signs of petering out in the low-1.2700s intraday, however, with the short-term charts reflecting better selling pressure merging above 1.2700. 

Minor support is 1.2675 intraday.

 

Jan 18, 2024

USD/CHF remains steady, above 0.8630 as SNB Jordan’s comments hit the Swissie

The US Dollar maintains its positive trend intact on Thursday.
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Russia Central Bank Reserves $ dipped from previous $598.5B to $592.6B

Russia Central Bank Reserves $ dipped from previous $598.5B to $592.6B
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