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GBP/USD: continue to target a drop to the 1.31 area - Scotiabank

Analysts at Scotiabank explained that the GBP/USD short-term technicals are bearish.

Key Quotes:

"Sterling broke under 1.33 in overnight trading and quickly tumbled to 1.3205 before stabilizing."

"Intraday price action suggests a minor bounce, rather than a more meaningful reversal, we think and the broader technical trend remains bearish for the GBOP following Cable’s loss of support at 1.3710/15 at the start of the month."

"We continue to target a drop to the 1.31 area as a result (but would not exclude the risk of a downside overshoot). Near-term, we spot resistance at 1.3300/10."

USD/CHF: Swiss Franc demand stays high as Italian uncertainties weigh on markets

USD/CHF traded as high as 0.9984 in early Europe then reversed course and erased its previous gains to trade at around 0.9920 down 0.15% on Tuesday.
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AUD/USD tumbles on risk aversion, tests 0.75

Following a weak recovery attempt during the early trading hours of the NA session, the AUD/USD pair, once again, came under pressure and dropped to a
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