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GBP/USD could see a bounce to 1.5230/60 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 11, 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, sees chances of a small rebound to the 1.5230/60 area.

    Key Quotes

    GBP/USD is seeing a tiny rebound as it attempts to consolidate recent losses”.

    “The market sold off sharply last week almost hitting psychological support at 1.5000. This is a key break down point for the market and we would allow a small rebound towards 1.5230/60 ahead of another leg lower”.

    “Resistance above here intensifies and is likely to provoke failure, the 200 day ma lies at 1.5344 and is expected to cap”.
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