GBP/USD is extending its rejection of sub1.32 levels on Monday to a breach of 1.33 today. Economists at Scotiabank note that the cable is set to turn bullish once above the 1.3350 neighborhood.
“A firm break past the mid-1.33s and a test of 1.34 (solid resistance) would turn the GBP technical picture to bullish after bouncing off the 38.1% Fib retracement of the 2020-21 move at 1.3165.”
“Support is the mid-1.32s zone followed by the figure.”
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