GBP/USD to test 1.37 on a firm break past the mid-1.36s – Scotiabank

GBP/USD has settled in an upward trend after relatively long, and choppy, consolidation following its early February test of 1.36. Economists at Scotiabank expect the pair to challange the 1.37 level.

Cable gains some technical momentum

“Technical trends over the past four days suggest further gains ahead to a test of 1.37 once it firmly breaks past the mid-1.36s.”

“Trendline resistance from the decline since June also stands at 1.3669.”

“Support after 1.3600/10 is 1.3580 and 1.3550/60.”