26 Oct 2015
GBP/USD remains under pressure – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees spot could test the 1.5280 area.
Key Quotes
“GBP/USD following the key day reversal charted on Thursday, the market came under pressure on Friday”.
“Attention has reverted to underlying support and initially the 20 day ma at 1.5315. A move below 1.5280 is required to alleviate immediate upside pressure (and is now favoured) but we will need a move sub 1.5200 to retarget the 1.5108 low”.
“The more important 1.5086/1.5000 support which is the 61.8% retracement and psychological support is likely to provide strong support”.
Key Quotes
“GBP/USD following the key day reversal charted on Thursday, the market came under pressure on Friday”.
“Attention has reverted to underlying support and initially the 20 day ma at 1.5315. A move below 1.5280 is required to alleviate immediate upside pressure (and is now favoured) but we will need a move sub 1.5200 to retarget the 1.5108 low”.
“The more important 1.5086/1.5000 support which is the 61.8% retracement and psychological support is likely to provide strong support”.