GBP/USD: Gains through 1.2865 to put Cable on track to retest the 1.30 area – Scotiabank

GBP/USD holds modest rebound. Economists at Scotiabank analyze the pair’s technical outlook.

Support seen at 1.2820/25

Sterling has recovered about half of last week’s late sell-off and is consolidating that advance in a tight range. 

Cable gains through 1.2865 should see some additional strengthening in the short run at least and put the Pound on track to retest the 1.30 area. 

Support is 1.2820/25.

See – GBP/USD: Scope for a deeper setback to the 55-DMA at 1.2676, but with support expected here – Credit Suisse