The British pound stays weak with the GBP/USD pair buying and selling beneath the 1.14 stage. Economists at Scotiabank anticipate cable to undergo extra losses.
Key resistance not seen till 1.1740/50
“Sterling is gentle and continues to stress minor assist (final week’s low) on the 1.1350/55 space.”
“The broader development decrease in cable stays intense and deeply entrenched throughout a number of timeframes and the shortage of apparent assist factors beneath the market depart the GBP/USD pair weak to extra losses.”
“Key resistance is a distant 1.1740/50.”