Karen Jones, analyst at Commerzbank, suggests that the GBP/USD is likely to find initial resistance at the 1.2840 levels after it has bounced off the bottom of its 4 month trading range.

Key Quotes

“While capped by the resistance line at 1.2994 it will remain offered. Support at 1.2662, the August low, has been tested and held 3 times now. Below 1.2662 would trigger further weakness to the 61.8% Fibonacci retracement of the 2016-2018 advance and the June 2017 low at 1.2593/89. Above 1.3002 lies the November 14 high at 1.3072. Further resistance comes in at the 1.3175 November high below which we will retain a longer term bearish bias.”

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD nears 1.1000 amid fears of US-EU trade war, mid-East flare-up

EUR/USD continues easing toward the critical support, a as fears of US tariffs against the EU and the fallout from the attack on Saudi oil installations weighs. Little data scheduled for today will leave sentiment in control.

EUR/USD News

GBP/USD drops to around 1.2450 ahead of Johnson-Juncker meeting

GBP/USD is trading closer to 1.2450, lower. UK PM Johnson will meet EC Commission President Juncker to discuss Brexit amid reports of progress. Tensions in the Middle-East and uncertainty ahead of the Fed impact markets.

GBP/USD News

USD/JPY looking to close the bearish opening gap amid risk-off

USD/JPY gapped down to 107.44 on Monday’s open as risk appetite is diminished following the attack on Saudi Arabian oil facilities. The spot now trades near 107.80, aiming to close the bearish opening gap ahead of a big week. 

USD/JPY News

Gold: Once again rebounds from ascending trend-line/23.6% Fibo. confluence support

Gold on Friday ended on a downbeat note and recorded its third consecutive week of declines, albeit once again managed to find decent support near a 3-1/2-month-old ascending trend-line.

Gold News

Top 3 price prediction Bitcoin, Ripple, Ethereum: Altcoins’ pre-season knocks on doors

As is customary in the Cryptocurrencies market, weekend trading results in significant movements. On this occasion, it is the Altcoin segment – and especially Ethereum –  that opens Monday's session with a considerable gain over Friday's close.

Read more

Forex MAJORS

Cryptocurrencies

Signatures