GBP/USD to fall to 1.2770? - Scotiabank

Analysts at Scotiabank explained that GBP/USD's outlook is neutral/bearish.

Key Quotes:

"Short-term trends look fairly flat for Cable but intraday charts do suggest that markets are prepared to fade modest GBP gains in the short run – even if there is a reluctance to push the pound aggressively lower."

"Three successive rejections of 1.3050 over the past few days implies that 1.2910, the intervening low point between the three highs, is the key tipping point from a bearish perspective."

"A break of the triple top trigger would target a quick fall to 1.2770/75."