GBP/USD: Gains may be able to stretch to 1.2735 into the end of the week – Scotiabank

GBP/USD recovers from low 1.26s. Economists at Scotiabank analyze the pair’s outlook.

Price trends turn more bullish above 1.2735

Sharp-ish, intraday gains for GBP/USD through late morning London dealing leave the pair pressuring minor resistance at 1.2665 on the hourly chart and put it within reach of 1.2680, a more important intraday point. 

Solid gains intraday suggest Cable gains may be able to stretch to 1.2735 into the end of the week. Price trends turn more bullish above there. 

Support is 1.2590/1.2595.