GBP/USD offered below 1.4308/66 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - According to Axel Rudolph, Senior Technical Analyst at Commerzbank, the pair needs to clear the 1.4308/66 band in order to alleviate downside pressure.

    Key Quotes

    GBP/USD reversed last week from 1.4083 and is trying to break through its two month downtrend at 1.4308 which caps for now”.

    “In order to alleviate downside pressure, a close above here and the recent high at 1.4366 will be needed”.

    “This looks increasingly likely and we will tighten stops on our short positions and exit on minor dips to 1.4250”.
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