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GBP/USD advances but remains technically mixed - Scotiabank

FXStreet (Barcelona) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank notes conditions surrounding GBP/USD’s advancements.

Key Quotes:

"GBP has managed to rally to a fresh 11‐session high as the currency continues to attempt a break of its downward trend.

“The BoE announced that the FLS ‐£2.2bn, bringing the total outstanding down to £47.6bn."

"GBP/USD short‐term technicals: mixed, with the MACD and candlesticks warning of upside pressure, but not yet building enough momentum to push GBP to break its downward trend (currently coming in at 1.5880)”.

“Support lies at yesterday’s low of 1.5679 while resistance comes in initially at 1.5800 followed by 1.5887."

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