11 Jun 2015
GBP/USD Forecast: shorts reinstated – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, suggests remaining short on GBP/USD, noting that the focus for the pair has now shifted lower towards 1.5208/1.5173.
Key Quotes
“GBP/USD has seen a strong rebound into the 1.5500/50 resistance, while capped here, attention remains on support at 1.5208/1.5173, the June low and, 55 week ma and 55 day ma. Tough resistance lies 1.5550, this is the location of the February high. Yesterdays move looked and felt directional and above here will trigger a move to the 1.5813 May high.”
“Current trade: Shorts reinstated 1.5500 Recommended Trade: Stops over 1.5555.”
Key Quotes
“GBP/USD has seen a strong rebound into the 1.5500/50 resistance, while capped here, attention remains on support at 1.5208/1.5173, the June low and, 55 week ma and 55 day ma. Tough resistance lies 1.5550, this is the location of the February high. Yesterdays move looked and felt directional and above here will trigger a move to the 1.5813 May high.”
“Current trade: Shorts reinstated 1.5500 Recommended Trade: Stops over 1.5555.”