GBP/USD now looks to 1.3120 – BBH

In opinion of analysts at BBH, GBP/USD needs to overcome the 1.3120 area in order to mitigate downside pressure.

Key Quotes

“Sterling has spent at last part of the nearly every session over the past two weeks below $1.30”.

“However, the lows in September were marginally above the August low, which itself was marginally above the July low”.

“If it is not just going to be a sideways affair, sterling needs to overcome a cap in the $1.3100-$1.3120 area”.