Select Language

GBP/USD: Holds range as attention turns to Wednesday's budget - Scotiabank

Breaking news

GBP/USD: Holds range as attention turns to Wednesday's budget - Scotiabank

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2024.10.29 01:00
GBP/USD: Holds range as attention turns to Wednesday's budget - Scotiabank

update 2024.10.29 01:00

The Pound Sterling (GBP) is unchanged on the day as local markets slip into a holding pattern ahead of Wednesday's budget, Scotiabank's Chief FX Strategist Shaun Osborne notes.

GBP consolidates on the day

"Chancellor Reeves is expected to loosen fiscal policy somewhat and if she manages to pull that off and maintain credibility with investors, the GBP might benefit."

"Cable is holding a trading range below 1.30. The short-term pattern of trade lends itself to a potentially bullish resolution of the recent trading range. Spot gains above 1.3005 resistance will add to the positive short-term tone on the intraday chart that developed late last week following the pound's reversal from 1.2910 (now support)."

"Gains through the low 1.30s target a push on to 1.3070/75."


Date

Created

 : 2024.10.29

Update

Last updated

 : 2024.10.29

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

WTI drops below $71.50 after the first US election results

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $71.35 on Wednesday.
New
update2024.11.06 10:42

Gold price bulls remain on the sidelines, around $2,740 after early US election results

Gold price (XAU/USD) struggles to capitalize on the previous day's bounce from the $2,725-2,724 area, or a one-and-half-week low and attracts fresh sellers during the Asian session on Wednesday.
New
update2024.11.06 10:38

US Election 2024: Pennsylvania early exit polls point to a Harris win

A tight 2024 United States presidential election is seen leaning in favor of Republican nominee Donald Trump.
New
update2024.11.06 10:33

Australian Dollar falls ahead of US election results, Georgia exit polls tilt toward Trump

The Australian Dollar (AUD) retraces its recent gains against the US Dollar (USD) on Wednesday as market anticipation builds ahead of the US presidential election outcome.
New
update2024.11.06 10:29

Japanese Yen slumps to 153.00 against USD after initial US election results

The Japanese Yen (JPY) touches a two-week high against its American counterpart during the Asian session on Wednesday after Bank of Japan (BoJ) minutes showed that the central bank will continue to hike interest rates if economic and price forecasts meet.
New
update2024.11.06 10:09

NZD/USD attracts some sellers below 0.6000 as Trump trades climb

The NZD/USD pair attracts some sellers to around 0.5970 on Wednesday during the early Asian session.
New
update2024.11.06 09:49

Breaking: US Election 2024: Exit polls show a slim Trump's advantage

A historical United States presidential election is about to come to an end.
New
update2024.11.06 09:14

BoC Meeting minutes: Central bank feels upside pressure on inflation will continue to decline

According to the Bank of Canada's (BoC) minutes from the October 2024 meeting that was released Wednesday, the governing council felt upside pressures on inflation will continue to decline, so the monetary policy did not need to be as restrictive.
New
update2024.11.06 09:12

BoJ Minutes: Central bank will continue rate hikes if economic and price forecasts meet

The Bank of Japan (BoJ) board members shared their views on the monetary policy outlook on Wednesday, per the BoJ Minutes of the September meeting.
New
update2024.11.06 09:03

USD/CAD softens below 1.3850 as traders brace for US election results

The USD/CAD pair weakens to near 1.3825 during the early Asian session on Wednesday.
New
update2024.11.06 08:15

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel