GBP/USD is extending its rejection of sub-1.32 levels on Monday to a breach of 1.33 today. Economists at Scotiabank note that cable is set to turn bullish once above the 1.3350 neighborhood.

Support is seen at the mid-1.32s

“A firm break past the mid-1.33s and a test of 1.34 (solid resistance) would turn the GBP technical picture to bullish after bouncing off the 38.1% Fib retracement of the 2020-21 move at 1.3165.”

“Support is the mid-1.32s zone followed by the figure.”

This article was originally published by Fxstreet.com.Read the original article here.

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