GBP holds up well on the day – Scotiabank

FXStreetFeb 28, 2025 1:23 PM

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Pound Sterling (GBP) is the best performing G10 currency on the week but is still trading with a 0.3% loss against the generally firmer USD, Scotiabank's Chief FX Strategist Shaun Osborne notes.

PM Starmer visit to Washington goes well

"PM Starmer’s visit to Washington was an apparent success, with some agreement on security and trade issues. Rather than tariffs, trade dialogue seems to be the order of the day. Trade and monetary policy risks suggest EUR/GBP should put major support at 0.82 under more pressure in the coming weeks."

"Spot continues to chop around the 100- day MA (1.2628). Intraday losses may be steadying ahead of short-term support at 1.2555/65. Resistance is 1.2610/20 ahead of 1.2690/00."

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