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GBP/USD: a test of 1.5658/90 remains on the cards – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, there are still chances for the pair to visit the 1.5658/90 band.

    Key Quotes

    “With GBP/USD it is difficult to determine whether this thrust higher is over on not”.

    “However currently we suspect that the market will begin to struggle. Nonetheless at this stage we are unable to rule out an extension to the top of the range circa 1.5658/90”.

    “Dips will find nearby support at 1.5405/1.5355 today but we note the 13 count on the 240 minute chart today and should find some resistance ahead of here at 1.5540 on the day”.

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