Analysts at Scotiabank explained that the GBP/USD short-term technicals are bearish. Key Quotes: “Sterling broke under 1.33 in overnight trading and quickly tumbled to 1.3205 before stabilizing.” “Intraday price action suggests a minor bounce, rather than a more meaningful reversal, we think and the broader technical trend remains bearish for the GBOP following Cable’s loss of support at 1.3710/15 at the start of the month.” “We continue to target a drop to the 1.31 area as a result (but would not exclude the risk of a downside overshoot). Near-term, we spot resistance at 1.3300/10.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD tumbles on risk aversion, tests 0.75 FX Street 5 years Analysts at Scotiabank explained that the GBP/USD short-term technicals are bearish. Key Quotes: "Sterling broke under 1.33 in overnight trading and quickly tumbled to 1.3205 before stabilizing." "Intraday price action suggests a minor bounce, rather than a more meaningful reversal, we think and the broader technical trend remains bearish for the GBOP following Cable's loss of support at 1.3710/15 at the start of the month." "We continue to target a drop to the 1.31 area as a result (but would not exclude the risk of a downside overshoot). Near-term, we spot resistance at 1.3300/10." Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
