GBP/USD 1.4770 still on the cards – Commerzbank
|In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, there is still room for a visit to the 1.4770 area.
Key Quotes
“GBP/USD remains capable of challenging 1.4772, the 200 day ma, we suspect that this will fail on the initial test – we note the 13 count on the 60 minute chart”.
“We would tighten up stops on longs given how close we are to initial target”.
“Intraday dips should hold 1.4600. Beyond some probable profit taking around the 200 day ma, the overall outlook is bullish, the upside measured target from the triangle is 1.5085”.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.