GBP/USD still targets 1.3502 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s longer term target remains at 1.3502.

    Key Quotes

    “GBP/USD charted an outside day to the downside on Friday and not only do we have a 13 count but the daily RSI has yet to confirm the new low, so caution is warranted and for now we will tighten stops on shorts”.

    “Our initial target remains 1.3502 the 2009 low. Below 1.3500 our primary target will be 1.2750 the 78.6% retracement at 1985”.
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