GBP lags EUR advance but should strengthen versus USD – Scotiabank
Source Fxstreet
Pound Sterling (GBP) is little changed on the session, Scotiabank's Chief FX Strategist Shaun Osborne notes.
GBP little changed on the day
"There were no major data reports from the UK this morning, but a KPMG survey revealed a slowdown in hiring and starting pay, according to recruiters, offering further signs that the UK jobs market is cooling."
"GBP is consolidating around retracement resistance (1.2924—61.8% Fibonacci of the 1.34/1.21 decline) as gains lag the advance in the EUR somewhat. Trend momentum remains bullish on the intraday and daily oscillators, however, and the pound should see firm support on dips to the 1.2850/75 zone. A clear push through the low 1.29s targets 1.3120."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
Crypto analyst Scott Melker identifies a prime risk/reward setup for XRP as it tests key support at $1.60, offering a tight stop-loss against potential upside targets near $2.00.
Ethereum Price Forecast: ETH faces heavy distribution as price slips below average cost basis of investorsEthereum (ETH) extended its decline on Wednesday, dropping more than 5% over the past 24 hours toward the $2,100 level, which is below the $2,310 average cost basis or realized price of investors, according to CryptoQuant's data.
Ethereum (ETH) extended its decline on Wednesday, dropping more than 5% over the past 24 hours toward the $2,100 level, which is below the $2,310 average cost basis or realized price of investors, according to CryptoQuant's data.
The U.S. government refuses to bail out Bitcoin, and with Fed rate cuts nowhere in sight, a continued downward trend to test for a bottom is likely after a brief rebound.During the mid-da
Bitcoin plunges 11% to break $65k as analysts term the crash "structural," citing a $1 trillion market wipeout and $2.09 billion in daily liquidations.
Related Instrument
