GBP/USD could slump to the 1.26 zone – Scotiabank

GBP soft in line with broader USD tone. Economists at Scotiabank analyze Cable’s outlook.

A minor double top around 1.2730 has been struck

Sterling’s losses on the session look a little more challenging from a short-term technical point of view.

A minor double top around 1.2730 has been struck, targeting a drop in the Pound to around 1.2600. A lower close on the day will form the third leg of a bearish ‘evening star’ pattern on the daily chart which could herald more corrective weakness.