GBP/USD to test the 1.34 level on a break above downtrend at 1.3334 – Scotiabank

Fibo Quantum

GBP/USD is on track for its first gain in four sessions as it climbs back above 1.33. The pair could extend its advance on a break above the 1.3334 downtrend, economists at Scotiabank report.

Support is seen at the 1.33 region 

“A firm breach above the Oct/Nov downtrend that acted as resistance on Tuesday and Wednesday, and today at 1.3334 could see the pound aim for a test of 1.34 that stands as resistance after 1.3360/70.”

“Support is the 1.33 zone followed by ~1.3275 and ~1.3260 ahead of the next big figure.”


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