In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, Cable’s stance remains neutral to negative although it could attempt a visit to the 1.3264/80 band. Key Quotes “GBP/USD is neutral to negative – the market last week struggled to maintain a foothold above the 20 day ma at 1.3171. Intraday Elliott wave counts have turned negative and as a result we have tightened up our stops. We would allow for recovery to the 1.3264/80 55 day ma and channel resistance. Last week’s low of 1.2957 was accompanied by a divergence of the daily RSI. Directly below here lies Fibonacci support at 1.2918 (50% retracement of the move up from 2016) and we are seeing some profit taking here”. “Above 1.3363, the 9 th July high would imply a deeper corrective phase to the 1.3470/1.3500 area and there is scope for the 1.3585 200 day ma”. 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/JPY could still see 110.25 tested near term – UOB FX Street 5 years In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, Cable's stance remains neutral to negative although it could attempt a visit to the 1.3264/80 band. Key Quotes "GBP/USD is neutral to negative - the market last week struggled to maintain a foothold above the 20 day ma at 1.3171. Intraday Elliott wave counts have turned negative and as a result we have tightened up our stops. We would allow for recovery to the 1.3264/80 55 day ma and channel resistance. Last week's low of 1.2957 was accompanied by a divergence of the daily RSI. Directly below here… 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.
