GBP/USD: Possible reversal of recent losses on acceptance above 1.3550 – Scotiabank

GBP/USD is coming back from a minor drop under 1.35. However, only a break above the 1.3550 region would alleviate downside pressure on the cable, economists at Scotiabank report.

Important support located at the 1.3450 area

“Cable will have to climb back above ~1.3550 to show signs of a possible reversal of recent losses – and a continuation of its gains since late-Jan.”

“Support after the figure zone is ~1.3475 and then the mid-1.34s where the 50-day MA of 1.3440 also stands.”