GBP/USD: Short-term trading patterns are bullish – Scotiabank GBPUSD Technical Analysis Banks
Short-term trading patterns are bullish. The charts highlight steady accumulation of the GBP over the past few trading sessions as the GBP weakened, resulting in a clear, bullish ‘rounded low’ pattern.
Some consolidation, perhaps nearer 1.2950/1.30, may develop from here but these sorts of patterns are typically followed by a more dynamic phase of market movement . Resistance is 1.2965 . Support is firm at 1.2800/25.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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