16 Jun 2014
GBP/USD could hit 1.7330? – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the recent GBP strength could allow for a visit to the 1.7330 area.
Key Quotes
“GBP/USD saw a huge acceleration higher last week - the move looks directional and for now we will go with the upside”.
“Dips lower are indicated to terminate ahead of 1.6925/1.6890 for an attempt on the 1.6996 recent high and the 1.7041/51 2009 high, 2005 low”.
“The risk has increased for gains to the 50% retracement at 1.7330 (from 2007 peak)”.
Key Quotes
“GBP/USD saw a huge acceleration higher last week - the move looks directional and for now we will go with the upside”.
“Dips lower are indicated to terminate ahead of 1.6925/1.6890 for an attempt on the 1.6996 recent high and the 1.7041/51 2009 high, 2005 low”.
“The risk has increased for gains to the 50% retracement at 1.7330 (from 2007 peak)”.