GBP/USD looks poised to retest the 1.2800/50 range – Scotiabank

GBP/USD gains strongly. Economists at Scotiabank analyze the pair's technical outlook.

GBP/USD has formed an inverse Head & Shoulders pattern

The GBP/USD pair has formed an inverse Head & Shoulders pattern over the turn of the month following the sharp rebound from the 1.26 zone.

Intraday gains have pushed through the neckline trigger (1.2730, now support) and look poised to push on to retest the 1.2800/50 range.

See: EUR/GBP may find some support around current levels and even converge back to 0.8600 – ING