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GBP/USD supported around 1.5060/30 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 7, 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, expects pullbacks in the pair to remain supported around 1.5060/30.

    Key Quotes

    GBP/USD has seen a major reversal just ahead of the 1.4860/78.6% retracement of the move up from April”.

    “This is already approaching the short term downtrend at 1.5184, and intraday dips are indicated to terminate circa 1.5060/30”.

    “There is scope for an extension to the 1.5242 55 day ma and the 1.5332 3 month downtrend”.
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