GBP/USD downside pressure intact below 1.4616 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, a close above 1.4616 is necessary to alleviate downside pressure.

    Key Quotes

    GBP/USD has seen an acceleration lower to 1.4385 the 30 year support line (low reached was 1.4353). We note the 13 count and the TD perfected set up on the daily chart and would recommend exiting shorts. The daily RSI at 15 is also oversold”.

    “Directly above the market lies the accelerated downtrend at 1.4616, in order to alleviate downside pressure, a close above here will be needed”.
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