GBP/USD to tick down towards December lows at 1.3160/65 – Scotiabank

GBP/USD steadies after taking a hammering this week. Economists at Scotiabank note that the broader balance of technical risks is tilted to the downside for the pound.

Firm resistance to gains between 1.3450/00

“Short-term trends suggest an intraday peak around 1.3440 now and we look for firm resistance to gains between 1.3450/00 in the coming days.”

“Support is 1.3290/00 ahead of a retest of the Dec lows at 1.3160/65.”