GBP/USD supported around 1.5060/30 – Commerzbank

Pablo Piovano FXStreet

FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, expects pullbacks in the pair to remain supported around 1.5060/30.

Key Quotes

“GBP/USD has seen a major reversal just ahead of the 1.4860/78.6% retracement of the move up from April”.

“This is already approaching the short term downtrend at 1.5184, and intraday dips are indicated to terminate circa 1.5060/30”.

“There is scope for an extension to the 1.5242 55 day ma and the 1.5332 3 month downtrend”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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