GBP/USD to extend its slump to the 1.33 level on a break under 1.3350 – Scotiabank

The GBP/USD picture is again looking firmly bearish after the early-week break below the mid 1.34 area. Economists at Scotiabank spot support for the cable at the mid-1.33s before the figure mark.

Resistance is located at the 1.34 area 

“A continued decline should find support at the mid-1.33s before the figure mark.”

“GBP/USD is rushing from overbought as recently as two weeks ago toward oversold in the next few days if the current trend continues.”

“Resistance is the 1.34 area followed by 1.3435/50.”