GBP/USD: upside corrective short-term – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the current upside in the pair as corrective.

    Key Quotes

    GBP/USD is upside corrective near term, we note the Elliott wave count on the daily chart is implying scope into the 1.4790/1.4965 zone and this remains viable”.

    “Note the March 2013 low cuts in at 1.4832 and the 23.6% retracement of the move down from the 2014 peak cuts in at 1.4816. Intraday dips lower are indicated to hold circa 1.4530/1.4460”.
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