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GBP/USD: favouring a re-test of 1.4151 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 10, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the possibility that the pair could visit the 1.4151 level.

    Key Quotes

    GBP/USD we are viewing last weeks high of 1.4665 as the end of the correction higher”.

    “The market will have to break below the 20 day ma at 1.4354 however to alleviate upside pressure and retarget 1.4151 (favoured)”.

    “Last weeks low at 1.4151 guards the January low at 1.4083. Below it lies the minor psychological 1.4000 region. The 1.3502 January 2009 low remains our primary target medium term”.
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