10 Jul 2015
GBP/USD offered below 1.5504 - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank noted the technical bearish conditions surrounding GBP/USD.
Key Quotes:
"It has also completed a large bearish rising wedge pattern. "The market will remain offered by the 1.5592 breached support line."
We target initially support at 1.5171, the June low and favour losses beyond here. Rallies should remain capped by the 1.5504 resistance line, and the market will remain directly offered while capped here.
Key Quotes:
"It has also completed a large bearish rising wedge pattern. "The market will remain offered by the 1.5592 breached support line."
We target initially support at 1.5171, the June low and favour losses beyond here. Rallies should remain capped by the 1.5504 resistance line, and the market will remain directly offered while capped here.