FXstreet.com (Barcelona) - Commerzbank analysts favor a break lower of the 1.5600/1.5585 (March low and highs in the first half of June and short term support line) support today as the GBP/USD continues to fail at the 1.5750/1.5786 area (200-day MA and 50% Fib).
Break of which would lead to 1.5407 (8th June low) and then 1.5269/35 (2012 low). “Rallies are expected to find intraday resistance at 1.5678 and now be contained by the 1.5786 Fibonacci retracement”, wrote analyst Karen Jones.
Break of which would lead to 1.5407 (8th June low) and then 1.5269/35 (2012 low). “Rallies are expected to find intraday resistance at 1.5678 and now be contained by the 1.5786 Fibonacci retracement”, wrote analyst Karen Jones.
