GBP/USD A break above 1.2850/55 is needed to reignite near term bullishness – Scotiabank

GBP trades softer but holds consolidation range. Economists at Scotiabank analyze Cable outlook.

A push above 1.2730 intraday will add to short-term momentum

Sterling has traded a little lower but losses remain confined to the consolidation range that had been developing through the week and the mid-week low at 1.2690 essentially held losses today. That is a minor plus for the Pound. 

A push above 1.2730 intraday will add to short term momentum. Bullish territory is, however, distant at this point; a break above 1.2850/55 is needed to reignite near term bullishness.