GBP/USD to extend recent gains on a close above 1.23 – Scotiabank

GBP/USD reverses losses below 1.21. The pair could enjoy further gains on a close above the 1.23 level, in the opinion of analysts at Scotiabank.

Support aligns at the 1.22 area

“We’re looking for the GBP to close above (and hold) 1.23 for signs that it can extend recent gains.”

“Resistance before the big figure zone is 1.2280.” 

“Support is the 1.22 area followed by the mid-1.21s.”