GBP/USD: Gains through 1.29 needed to give Cable a stronger, technical lift – Scotiabank GBPUSD BOE Banks
GBP/USD consolidates below 1.28 ahead of Thursday’s BoE decision. Economists at Scotiabank analyze the pair’sMarkets remain undecided about whether the BoE will deliver a 25 or 50 bps hike but the GBP should continue to find support on dips from positive yield spreads against the USD along the curve for now.Resistance is 1.2810 and 1.2875. Gains through 1.29 are needed to give Cable a stronger, technical lift, however.
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