Pound Sterling (GBP) is modestly firmer on the session, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
Robust GBP bull development develops
“There have been no main developments of be aware over the weekend and no information releases at present. Markets have priced out all however any danger of a fee minimize on the June nineteenth BoE choice. There are solely second-tier survey experiences due over the remainder of this week that are unlikely to form market expectations to any vital diploma.”
“Cable traded somewhat shy of 1.36 in quiet in a single day commerce, its highest since early 2022. Minor resistance at 1.3595 could cap the pound within the brief run however the bull development right here appears to be like stable as effectively.”
“There’s a clear alignment of DMI oscillators throughout the intraday, day by day and weekly research which suggests restricted scope for counter-trend corrections and agency assist on minor dips. Help is 1.3545/50. Resistance is 1.3595/00 forward of 1.3740/50.”
