GBP/USD: short-term technicals remain bullish – Scotiabank

FXStreet (Barcelona) - GBP/USD focus has shifted to the upside towards 1.58 levels, notes Eric Theoret, CFA, CMT, Currency Strategist at Scotiabank.

Key Quotes

“GBPUSD short-term technicals: bullish—GBP has retraced the bulk of its decline from mid-May, shifting the focus to further upside and the potential for a climb toward recent highs above 1.5800. The rally would be threatened on a break back below the 61.8% Fibo at 1.5569.”