According to technicals, Cable faces the prospects of a rebound to the 1.3390/1.3505 band, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes “GBP/USD: last week’s new low was not confirmed by the daily RSI, and the market eroded the accelerated downtrend. We look for a small correction higher. It is interesting to note that the Elliott wave count is pointing to a corrective rebound to the 1.3390/1.3505 area, which is extremely tepid. Below 1.3200 will trigger losses to the 1.3040 October low”. “The March low lies at 1.3712 and this should offer a tough near term barrier. Rallies are expected to remain capped by the 1.3826 55 day moving average and while below here the market will remain directly offered”. 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. View All Post By FX Street FXStreet News share Read Next USD/CAD weakens back to 1.2900 neighborhood amid notable USD supply FX Street 5 years According to technicals, Cable faces the prospects of a rebound to the 1.3390/1.3505 band, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes "GBP/USD: last week's new low was not confirmed by the daily RSI, and the market eroded the accelerated downtrend. We look for a small correction higher. It is interesting to note that the Elliott wave count is pointing to a corrective rebound to the 1.3390/1.3505 area, which is extremely tepid. Below 1.3200 will trigger losses to the 1.3040 October low". "The March low lies at 1.3712 and this should offer a tough near term… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
