GBP/USD regains 1.22. Economists at Scotiabank analyze the pair’s outlook.
Sterling’s solid rebound from its mid-week low via a big, bullish key reversal/outside range signal has extended a little further to reach the low 1.22s.
Last day’s gains on Thursday added GBP’s bullish credentials to the short-term chart through 1.2175/80 and supported the case for some additional near-term progress towards the 1.23 level.
Support is 1.2185/1.2195.
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