GBP/USD: Risks tilted towards renewed losses toward 1.30 – Scotiabank

GBP/USD is more or less flat on the session. Economists at Scotiabank expect cable to suffer a decline towards 1.30 after failing to sustain gains above the 1.33 level.

Intraday support aligns at 1.3095/00

“The GBP’s failure to hold gains through 1.33 in late March leaves a negative impression on the longer run charts and tilts risks towards renewed losses towards 1.30.” 

“We spot intraday support at 1.3095/00.” 

“Resistance is 1.3150/55.”