GBP/USD: Break above 1.1395/1.1400 to clear the way towards 1.15/1.17 – Scotiabank

GBP/USD is trading on a relatively firm basis. However, the pair is still struggling to break above resistance in the 1.1395/00 area. A break above here is needed to propel cable towards the 1.15/15 region, economists at Scotiabank report.

GBP/USD to drop back towards 1.11/12 if 1.1395/1.1400 resistance holds

“A break above the 1.1395/1.1400 area could change short-term dynamics an put the pound on course for a 1.15/1.17 test.”

“If the 1.1395/1.1400 resistance holds, GBP/USD may slip back to 1.11/1.12.” 

See – GBP/USD: Resistance at 1.1480 /1.1500 to cap the recovery – Credit Suisse