GBP/USD bulls rejected ahead of the 1.30 handle - Scotiabank

Analysts at Scotiabank explained that cable took another look at the 1.2990/00 area overnight but the push higher has been handily rejected.

Key Quotes:

"The short-term charts look bearish for the GBP as a result; the 1-hour and 6-hour charts look toppish, the 1-hour chart especially so, with Cable forming a bearish outside range session earlier today."

"Weakness below 1.2900/10 will see Cable losses extend. EURGBP is softer, closing its Apr 24 gap just under 0.84; further losses below 0.8370 should see the cross ease to 0.83 near-term."