GBP/USD: Break through mid/upper 1.17s should add to positive momentum – Scotiabank

GBP/USD climbs to the 1.1700 level. Further gains through mid/upper 1.17s should add more strength to the pound, economists at Scotiabank report.

Support aligns at 1.1575/00

“Cable closed positively last week (weekly bull ‘hammer’) and additional progress through the mid/upper 1.17s should add to positive momentum in the short/medium term.”

“Support is 1.1575/00.”