GBP/USD could reach the 1.5658/90 band – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, a visit to the 1.5658/90 area is not ruled out.

    Key Quotes

    GBP/USD has maintained upside pressure to test the top of the cloud at 1.5492”.

    “Currently we suspect that the market will begin to struggle however 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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