GBP/USD could see 1.5658/90 tested – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 22, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the door remains open for a test of the 1.5658/90 area.

    Key Quotes

    GBP/USD continues to hold sideways and at this stage we are unable to rule out an extension to the top of the range circa 1.5658/90”.

    “A move below 1.5280 is required to alleviate immediate upside pressure but we will need a move sub 1.5200 to retarget the 1.5108 low”.

    “The more important 1.5086/1.5000 support which is the 61.8% retracement and psychological support is likely to provide strong support”.
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