GBP/USD losing its demand and perhaps headed to...? - Scotiabank

Analysts at Scotiabank explained that cable retains a soft undertone, reflecting last week’s failure to crack 1.30.

Key Quotes:

"Losses are moderate in scale but meaningful on the short-term charts and intraday weakness today reaffirms a bearish near-term bias to spot price action at least.

"We see support at 1.2865 and more important underpinning for the GBP at 1.2775. Resistance is 1.2950 and 1.2990/00."