GBP/USD: Technical signals point to further losses ahead towards 1.30 – Scotiabank

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GBP/USD pressures the 1.33 level. In the view of economists at Scotiabank, the cable could fall as low as 1.30.

The 1.3350/55 range will stand as resistance

“The GBP’s slide from its failed break of 1.35 last week is on track to a test of 1.33.” 

“The five-day losing streak in the pound has left it trading just shy of oversold in the RSI with the eventual move likely to prevent a test of 1.32 in the coming days if losses past 1.33 extend.” 

“Technical signals are still pointing to further losses ahead toward 1.30.”

“The 1.3350/55 range will stand as resistance ahead of the 1.3380 zone and then the figure.”