GBP/USD could enjoy more short-term gains to 1.2050 – Scotiabank GBPUSD Brexit BOE Banks
Short-term GBP trading patterns are leaning bullish. Cable may push higher in the short run, analysts at Scotiabank report.“Sterling may be responding to signals that the UK is very close to tying up a post-Brexit trading arrangement with the EU. A deal would be a longer-term positive for the Pound but may not alter near-term dynamics to any significant extent beyond giving the GBP a modest, psychological boost.
“Near-term trends will be driven by the broader USD tone as well as market expectations running into the Mar 23rd“Positive, short-term price signals around important, longer-term support levels warrant attention and sets the GBP up for more short-term gains to 1.2050.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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