October 29, 2024 – Written by David Woodsmith
STORY LINK Pound Sterling Edges Higher into UK Budget, GBP/USD Re-Tests 1.30
The Pound to Dollar (GBP/USD) exchange rate found support above 1.2950 on Tuesday and rallied to test the 1.3000 level after the New York open as the dollar retreated after the batch of US data, but failed to make a decisive break higher.
According to Scotiabank; “gains through 1.2995/00 could still see the pound extend to the 1.3070/75 area.”
ING remained broadly bearish on Cable; “GBP/USD…
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