GBP/USD: technically soft with downside bias - Scotiabank

Analysts at Scotiabank offered the technical picture for GBP/USD.

Key Quotes:

"The undertone for Cable remains soft, even if price action is showing little in the way of directional intent so far this morning."

"We see support at 1.4340/45 (40-day MA at 1.4342) and resistance at 1.4420/30. Daily and weekly price signals are negative but momentum appears weak. Look for range-trading, with a downside bias."