GBP/USD: Under pressure – Commerzbank

Sandeep Kanihama FXStreet Contributor

According to Karen Jones, analyst at Commerzbank, GBP/USD is under pressure while capped by the near term downtrend at 1.3138 to head back to the 55 day ma at 1.3000.

Key Quotes

“Failure here will trigger a slide to the December low at 1.2908. Failure at the 1.2908 support would put the 4 month uptrend at 1.2801 and the 200 day moving average at 1.2689 back on the plate. The near term downtrend guards the Fibonacci resistance at 1.3285. This is considered to be the last defence for the December high at 1.3515.”

“Failure at the 1.2908 support would target the 200 day moving average.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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