GBP/USD consolidates in a tight range below 1.2750. Economists at Scotiabank analyze the pair’s technical outlook.
Sterling is trading flat on the session but is still edging a little above the mid-point of its broader trading range, defined by support at 1.2620 (double bottom) and resistance at 1.2820 (double bottom trigger).
A clear break above 1.2820 targets a move to the low 1.30s.
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