GBP/USD: Move above 1.3050 to clear the way towards 1.31 – Scotiabank

GBP/USD is marginally stronger. Economists at Scotiabank believe that the pair could reach the 1.31 level if it manages to surpass the 1.3050 region.

Support after the 1.30 zone and does not come in until psychological mid-1.29s zone

“The GBP’s recovery from sub-1.30 stopped in the mid-1.30s that will continue to act as resistance with limited obvious resistance markers between this zone and the 1.31 area.” 

“Support after the 1.30 zone and ~1.2980 does not come in until psychological support at the mid-1.29s and more clearly at the 1.29 figure area.”