GBP/USD: Firm breach under 1.35 to open up the 1.34 level – Scotiabank

GBP/USD follows peers lower to test 1.35. Economists at Scotiabank notes that a break under that level would open up losses towards the 50-day moving average (DMA) at 1.3468, then the 1.3450 and 1.3400 marks.

Near-term resistance seen at 1.3525/30

“1.3525/30 that marks resistance alongside the mid-figure zone; 1.3575 and the 1.36 area follow.”

“A re-test of 1.35 on the downside and a firm breach under the level opens up losses to a test of the 50-day MA of 1.3468, followed by the mid-1.34s and then the figure.”

See: GBP/USD to slide below 1.34 towards 1.32 on a Russian invasion of Ukraine – Scotiabank