Home GBP/USD above 1.3137 could test 1.3260/1.3363 – Commerzbank
FXStreet News

GBP/USD above 1.3137 could test 1.3260/1.3363 – Commerzbank

In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, Cable should close above 1.3137 to allow for gains to the 1.3260/1.3363 band.

Key Quotes

GBP/USD has not managed to clear the 78.6% retracement at 1.3137 on a closing basis. We will need to see this for gains to the top of the range at 1.3260/1.3363. We would allow for near term dips lower but for now will stand aside. We have minor support at 1.3026 day ma ahead of 1.2922 (the early October low) ahead of the 1.2662 August low”.

“Resistance at 1.3298/1.3363 guards the 200 day ma at 1.3399″.

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.