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1 Oct 2013
Flash: GBP/USD approaching the 1.6327 4 year downtrend – Commerzbank
FXstreet.com (Athens) – Karen Jones, Head Technical Analyst at Commerzbank suggests that GBP/USD continues to inch higher and looks capable of extending gains to the 2009-2013 downtrend at 1.6327, where we would look for signs of failure.
Key Quotes
“The market remains immediately bid while above the 1.6086 accelerated uptrend.”
“Below 1.6086 attention should shift to the 1.5783 3 month uptrend. The market will need to close below here to confirm that it has topped short term and trigger losses to 1.5430, then 1.5104.”
Key Quotes
“The market remains immediately bid while above the 1.6086 accelerated uptrend.”
“Below 1.6086 attention should shift to the 1.5783 3 month uptrend. The market will need to close below here to confirm that it has topped short term and trigger losses to 1.5430, then 1.5104.”