GBP/USD: Clear break above 1.2820 targets a move to the low 1.30s – Scotiabank

GBP/USD consolidates in a tight range below 1.2750. Economists at Scotiabank analyze the pair’s technical outlook.

Support aligns at 1.2620 (double bottom)

Sterling is trading flat on the session but is still edging a little above the mid-point of its broader trading range, defined by support at 1.2620 (double bottom) and resistance at 1.2820 (double bottom trigger). 

A clear break above 1.2820 targets a move to the low 1.30s.

See – GBP/USD: The Pound will still be vulnerable if UK recession risks rise – Rabobank