GBP/USD: strong top forming - Scotiabank

Analysts at Scotiabank explained that intraday patterns are, in fact showing some modestly positive signals for Cable as the pound recovers from the low 1.41 area.

Key Quotes:

"Safe ground is distant) and the GBP’s recent weakness is likely to extend on the basis of longer-term price signals which suggest a strong top forming in the past few weeks above 1.44/1.45. Risk remains towards a retest (at least) of the early 2016 low at 1.3840."