GBP/USD: Rangebound trading set to remain unless a firm move under 1.35 – Scotiabank

GBP/USD’s broad price action remains range-bound. 1.35 and 1.36 are the levels to watch, according to analysts at Scotiabank.

Cable remains limited by 1.3600/10

“Rangebound trading looks set to remain unless the GBP makes a firm move under 1.35 – but it has quickly been bid under the figure on three separate occasions this month.”

“Intermediate support is the mid-figure area and ~1.3520.”

“On the upside, the pound remains limited by 1.3600/10, initially, followed by the mid-figure area; the 200-day MA, above which it hasn’t closed since last Sep, comes next at 1.3694.”

See: GBP/USD to post bullish technical signal on a move above 1.3710/1.3750 – SocGen