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28 May 2015
GBP/USD could re-visit 1.5029-1.5121 – Commerzbank
FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could test the cloud support at the 1.5059-1.5121 band.
Key Quotes
“GBP/USD is easing back to fill the gap available down to 1.5290”.
“We note the TD perfected set up on the 60 minute chart and would allow for a near term rebound ahead of further losses”.
“We continue to suspect that the market has topped just ahead of key resistance offered by 1.5855/80, the October 2013 low and 50% retracement”.
“We look for a return to the cloud support and May low at 1.5059/1.5121”.
Key Quotes
“GBP/USD is easing back to fill the gap available down to 1.5290”.
“We note the TD perfected set up on the 60 minute chart and would allow for a near term rebound ahead of further losses”.
“We continue to suspect that the market has topped just ahead of key resistance offered by 1.5855/80, the October 2013 low and 50% retracement”.
“We look for a return to the cloud support and May low at 1.5059/1.5121”.