GBP/USD is a fade back to 1.4350 - Scotiabank

Analysts at Scotiabank explained the technical conditions surround GBP/USD.

Key Quotes:

"Cable’s rebound stalled in the low 1.45 area earlier, where the last two Cable rallies have failed."

"GBP gains still look to be a fade from our perspective, given the negative daily and weekly price action registered on the charts recently."

"We look for GBPUSD to ease back to the mid/upper 1.43 area (40-day MA at 1.4350) below there."