GBP/USD: At risk of losses toward 1.34 and potentially 1.32 after failure at 1.36 – Scotiabank

GBP/USD failed to close above 1.36. Cable is now at risk of suffering substantial losses toward 1.34 and even 1.32, economists at Scotiabank report.

Resistance after 1.36 is seen at 1.3615/25

“Failure to firmly break past 1.36 leaves the GBP at risk of losses toward 1.34 initially and potentially 1.32 in relatively short order.”

“Intermediate support ahead of the 1.35 figure zone is ~1.3525 and the 50-day MA of 1.3512.”

“Resistance after 1.36 is 1.3615/25 and the mid-figure area.”