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22 Jan 2024

GBP/USD: Likely to hold within the recent 1.2600/1.2800 range for a little longer – Scotiabank

GBP/USD is holding a neutral point within the recent 1.2600/1.2800 trading range. Economists at Scotiabank analyze the pair’s outlook.

Short-term technicals lean bearish

Traders have little to go on and Cable is likely to hold within the recent 1.2600/1.2800 range for a little longer.

Trend signals are flat to slightly negative on the shorter-term studies but price action does have a mildly negative look to it on the short-term chart, with GBP gains developing a bearish wedge pattern over the past few sessions (negative on a break under 1.2685/1.2690). Resistance is 1.2735/1.2740.

 

Jan 22, 2024

US Dollar steadies, bracing for eventful week with US GDP and ECB decision

The US Dollar (USD) is opening the week a bit on the backfoot. Some selling pressure appeared in Asia on early Monday morning, ahead of a packed week with a lot of data points. The busy week in the macroeconomic calendar comes along with no
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Jan 22, 2024

EUR/USD falls as USD Index recovers intraday losses ahead of central bank decisions

The EUR/USD pair falls from the round-level resistance of 1.0900 in the late European session.
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