GBP/USD in consolidation? - Scotiabank

Analysts at Scotiabank explained that sterling has been choppy in the past 24 hours and heightened volatility may encourage short-term concerns that price may squeeze a little higher still.

Key Quotes:

"We suspect that Cable may gain modestly to 1.2250/70. More broadly, the market is consolidating recent weakness (and the flash crash) still and remains prone to further declines. We remain bearish."