Home GBP/USD could see a small pullback – Commerzbank
FXStreet News

GBP/USD could see a small pullback – Commerzbank

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, Cable could now attempt a knee jerk after advancing to the 1.3040 region.

Key Quotes

GBP/USD saw a strong rebound from just ahead of the 1.2662 August low. The market has started to nibble at the 61.8% retracement at 1.3043 and we may see a small pull back from here. Above here will target the top of the range at 1.3260/1.3363. The rally last week looks directional and at this point we will attempt to buy dips”.

“Below 1.2662 would trigger further weakness to the 61.8% retracement of the move 2016-2018 and June 2017 low at 1.2593/89″.

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.