GBP/USD could slip back to 1.3200 – Scotiabank

Shaun Osborne, Chief FX Strategist at Scotiabank, does not rule out a visit to the 1.3200 area in the near term.

Key Quotes

“GBPUSD stalled around the recent highs defined by the mid Oct/early Nov peaks near 1.3350”.

“A doji candle signal yesterday on the daily chart suggests that the GBP may have trouble progressing in the near term. But still bullishly-aligned trend strength signals suggest Cable support on weakness to the 1.33 area should hold up for now”.

“Sustained losses below 1.3290/00 today would open up the downside a little more towards 1.3200, however”.