GBP/USD Range Trade with Upside Risk, Says Scotiabank
Scotiabank’s FX strategy team sees the British pound trading in a range against the US dollar with modest upside risk, as GBP/USD hovers around its long-term moving averages.
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The British pound remains modestly firmer, according to Scotiabank’s Global FX Strategy team.
GBP/USD is pivoting around its long-term moving averages, signaling a range-bound trading pattern. Analysts note that while the pair lacks a clear trend, the near-term bias leans to the upside.
The range trade with upside risk suggests that sterling could appreciate within its current band, but a sustained breakout is not yet indicated.
Source: FXStreet Forex News