GBP/USD is range bound below strong 1.2820 resistance - Scotiabank

Analysts at Scotiabank explained that Cable is still essentially range bound. 

Key Quotes:

"The short-term swing point for market sentiment seems to be the 1.2600/30 range, with the pound better bid above and better offered below."

"Intraday gains may extend modestly from here but there is still very strong resistance above the market at 1.2800/20 (initial post-Brexit low)."

"Cable gets more bullish above here."