GBP/USD: neutral/bearish outlook - Scotiabank

Analysts at Scotiabank explained that GBP/USD has a neutral/bearish outlook.

Key Quotes:

"Intraday gains for the GBP stalled around 1.4220 earlier, leaving a large “shooting star” candle on the intraday chart and suggesting a pause at least in the pound’s rally."

"The broader undertone for the market looks positive from a technical point of view, however, and we look for GBP dips to remain well-supported."

"We see support at 1.4180 and stronger demand likely emerging in the low/mid 1.14s in the event of a softer tone developing today. Dips should remain well supported."