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GBP/USD appears well supported around 1.50 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the significance of the support at the psychological handle at 1.50 the figure.

    Key Quotes

    GBP/USD sold off sharply last week almost hitting psychological support at 1.50000”.

    “This is a key break down point for the market and we would allow for it to hold the initial test and we would allow for a small rebound towards 1.5180 and 1.5260 ahead of another leg lower”.

    “Resistance above here intensifies and is likely to provoke failure”.
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