GBP/USD: headed to 1.3990/00? - Scotiabank

Analysts at Scotiabank noted that sterling gains struggled to really extend through short term resistance in the mid 1.38s yesterday but the early move against the USD today has supported a firmer undertone in GBPUSD.

Key Quotes:

"We see intraday resistance at 1.3940 (40-day MA) and 1.3980 (short-term trend). We still rather think short-term GBP gains are to be faded while the pound remains below 1.3990/00."