Commerzbank analysts suggest that GBP/USD has rapidly bounced off the 61.8% retracement at 1.2196, neutralizing their forecast. Key Quotes “Minor resistance at the 1.2506 June low and stronger resistance at the mid-July and September highs at 1.2580/82 is back in the picture. Below the current October low at 1.2194 lies the early and mid-August lows at 1.2091/15 and major support lies at the 1.1958 September low.” “A slip through the 1.1958 recent low would put the 1.1588 1985-2019 support line and the 1.1491 October 2016 low (according to CQG) back in the picture.” “A close above 1.2580/82 would introduce scope to the seven month resistance line at 1.2612 and the 200 day ma at 1.2712.” 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 Forex News Today: Daily Trading News share Read Next EUR/USD looks sidelined above 1.1000, eyes on trade FX Street 4 years Commerzbank analysts suggest that GBP/USD has rapidly bounced off the 61.8% retracement at 1.2196, neutralizing their forecast. Key Quotes "Minor resistance at the 1.2506 June low and stronger resistance at the mid-July and September highs at 1.2580/82 is back in the picture. Below the current October low at 1.2194 lies the early and mid-August lows at 1.2091/15 and major support lies at the 1.1958 September low." "A slip through the 1.1958 recent low would put the 1.1588 1985-2019 support line and the 1.1491 October 2016 low (according to CQG) back in the picture." "A close above 1.2580/82 would introduce scope… 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.
