Economists at Scotiabank observe that GBP/USD has been gradually increasing as market focus shifts to tightening risks by the Bank of England (BoE).
Although the pound has demonstrated a generally positive performance last week, its gains have been uneven, and there is still a likelihood of setbacks around or slightly above the 1.25 level.
For intraday trading, support is expected in the range of 1.2425/35, while resistance levels are projected at 1.2490/00 and 1.2550.
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