GBP/USD: now headed to 1.44 area? - Scotiabank

Shaun Osborne Chief FX Strategist at Scotiabank explained that cable finished yesterday’s session relatively firmly and has extended the run higher again.

Key Quotes:

"Cable has extended the run higher again to push more obviously through the 40-day MA (1.4198); gains may extend to 1.44+ near-term as intraday momentum looks encouraging and the pound appears to have some traction on the daily charts."

"We expect GBP/USD gains may slow in the mid/upper 1.44 area, however."