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22 Oct 2015
GBP/USD could see 1.5658/90 tested – Commerzbank
FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the door remains open for a test of the 1.5658/90 area.
Key Quotes
“GBP/USD continues to hold sideways and at this stage we are unable to rule out an extension to the top of the range circa 1.5658/90”.
“A move below 1.5280 is required to alleviate immediate upside pressure 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 continues to hold sideways and at this stage we are unable to rule out an extension to the top of the range circa 1.5658/90”.
“A move below 1.5280 is required to alleviate immediate upside pressure 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”.