Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested Cable could have carved an interim low in light of the recent price action. Key Quotes “GBP/USD is upside corrective following a key day reversal charted on Thursday last week. When we couple this with the TD perfected set up on the weekly chart and the divergence of the daily RSI, it is likely that the market has charted an interim low. The Elliott wave count is suggesting a correction into the 1.3440/1.3540 band. There is scope for the 1.3598 200 day ma. A negative bias will remain entrenched while capped by the 1.3712 March low”. “The market had been approaching strong support offered by the 1.3040 October 2017 low, and the 50% retracement at 1.2918 and looks to have reversed just ahead of here. Below 1.2918 would be treated as the break down point to 1.2580, the 61.8% retracement from 2016″. 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 UK: Theresa May’s impossible equation is alive and kicking – Nordea Markets FX Street 4 years Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested Cable could have carved an interim low in light of the recent price action. Key Quotes "GBP/USD is upside corrective following a key day reversal charted on Thursday last week. When we couple this with the TD perfected set up on the weekly chart and the divergence of the daily RSI, it is likely that the market has charted an interim low. The Elliott wave count is suggesting a correction into the 1.3440/1.3540 band. There is scope for the 1.3598 200 day ma. A negative bias will remain entrenched while… Top 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.
