GBP/USD to challenge the 1.32 level on a breach of 1.3250 – Scotiabank

Cable slides in a continued GBP downtrend. Economists at Scotiabank expect the GBP/USD to restest the 1.3200 level if 1.3250 gives way.

Resistance above 1.33 region is seen around 1.3335

“The pound’s failed push above 1.33 leaves the short-term charts looking a touch more negative and the broad downtrend points to losses extending to a re-test of 1.32 if the mid-figure area gives way.”

“After the 1.33 area, resistance is ~1.3335 and 1.3350/70.”