GBP/USD bearish below 1.4664 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    In view of Axel Rudolph, Senior Technical Analyst at Commerzbank, the pair’s outlook remains offered below 1.4664.

    Key Quotes

    GBP/USD tries to overcome the 55 day moving average at 1.4380. If bettered, a rise towards the 1.4664 February high may well ensue”.

    “While the 1.4664 February high caps, our downside target of 1.3502, the 2009 low, will remain intact”.

    “Below 1.3500 our primary target will be 1.2750, the 78.6% retracement. The January low at 1.4083 should act as nearby support”.
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