Pound to Dollar: "Trend Dynamics Still Leaning GBP-Bearish" say Scotiabank Techs

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Pound to Dollar: "Trend Dynamics Still Leaning GBP-Bearish" say Scotiabank Techs

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February 7, 2024 – Written by David Woodsmith

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Positive Fundamentals Underpin the Pound, GBP/USD Exchange Rate Holds Above 1.2600

The Pound to Dollar (GBP/USD) exchange rate made further headway in Europe on Wednesday with a peak just above 1.2640.

Firm domestic data provided net currency support, but UK equities lost ground later in the session and GBP/USD retreated to 1.2620.

In comments on Wednesday, Bank…
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