Sterling Gains on Risk Appetite, Faces Resistance – Scotiabank
Scotiabank notes that sterling's recent outperformance against major peers is driven by broader risk appetite rather than domestic factors, with flow-driven gains now approaching key resistance levels.
GBPUSD
According to Scotiabank's analyst team, the British pound is a moderate outperformer versus core major currencies. The strength is attributed to broader risk appetite in the market rather than domestic fundamentals.
Flow-driven gains are now approaching resistance levels, which may cap further upside. The analysts note that while the risk-on environment supports sterling, the lack of domestic catalysts suggests the rally could face headwinds at current levels.
Source: FXStreet Forex News