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2 May 2018
GBP/USD: short-term technicals are neutral/bullish, 1.3715 key - Scotiabank
Analysts at Scotiabank explained that GBP/USD short-term technicals are neutral/bullish.
Key Quotes:
"Intraday gains may extend modestly after the GBP spent much of the overnight session bouncing along the lows around 1.3590/00."
"The squeeze higher from the low has delivered some positive price signals to the intraday chart (bullish outside range on the 6-hour chart) which may underpin the market somewhat around the low in the short run."
"Upside potential is perhaps limited to short-term trend resistance at 1.3685 but think gains towards the 1.3715 breakdown point on the daily chart are liable to attract selling interest now."