In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, Cable’s downside should be limited and hold above the 1.2930 area. Key Quotes “GBP/USD is seeing a correction lower unfold near term. Below the market lies the 55 day moving average at 1.2992. Currently the technical signals are conflicting – but we suspect that the downside scope is now pretty limited and should hold above the near term support line at 1.2932. It will maintain an upside bias above the 55 day ma”. “A move above last week’s high at 1.3298 would bring the 1.3363 July into focus. A move above the 1.3363 July high would imply a deeper corrective phase to the 1.3473/1.3514 June high and 200 day moving average”. 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 EUR/GBP Technical Analysis: Remains vulnerable below 0.8900 confluence hurdle FX Street 4 years In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, Cable's downside should be limited and hold above the 1.2930 area. Key Quotes "GBP/USD is seeing a correction lower unfold near term. Below the market lies the 55 day moving average at 1.2992. Currently the technical signals are conflicting - but we suspect that the downside scope is now pretty limited and should hold above the near term support line at 1.2932. It will maintain an upside bias above the 55 day ma". "A move above last week's high at 1.3298 would bring the 1.3363 July into focus.… 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.
