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Will we get a stable cable this week? - Scotiabank

FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank notes the conditions surrounding sterling’s fate this week.

Key Quotes

"Data and central bank releases from the UK this week will prove less important than in other countries”.

“Accordingly GBP is likely to prove somewhat stable this week, proving comfortable between 1.6162 and 1.6400."

GBP/USD finds resistance at 1.6275

Cable was unable to hold to gains and pulled back against the US dollar in New York.
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USD/CHF hovering around 0.9500

The Swiss franc was rising against the US dollar for the first time in a week but Greenback recovered ground versus European currencies during the American session and erased losses.
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