GBP/USD pressures the 1.33 level. In the view of economists at Scotiabank, the cable could fall as low as 1.30.
“The GBP’s slide from its failed break of 1.35 last week is on track to a test of 1.33.”
“The five-day losing streak in the pound has left it trading just shy of oversold in the RSI with the eventual move likely to prevent a test of 1.32 in the coming days if losses past 1.33 extend.”
“Technical signals are still pointing to further losses ahead toward 1.30.”
“The 1.3350/55 range will stand as resistance ahead of the 1.3380 zone and then the figure.”
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