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GBP/USD shows a slight decline for the day but is predominantly maintaining its position within the established trading range of 1.2520/1.2825. Analysts at Scotiabank assess the outlook for the pair.
The intraday chart indicates bullish trend dynamics and positive price signals.
Sterling is slightly above the midpoint of the broader range between 1.2520 and 1.2825, which has been in play since the beginning of the year.
While the intraday chart signals a bullish trend with positive price indicators, the daily chart highlights resistance at 1.2700/1.2710 that GBP needs to surpass for further gains.
Support is 1.2600
