According to Karen Jones, analyst at Commerzbank, GBP/USD has failed on the initial test of its 3-month down channel at 1.2272, and look for this to hold the initial test. Key Quotes “Dips lower will find minor support at 1.2108 ahead of the 1.2015 recent low and TD support at 1.1988. Below 1.1988 lies the 1.1491 3 rd October low (according to CQG). Only a close above the downtrend would introduce scope to the 55 day ma at 1.2399 and the June high at 1.2784.” “Only a rise above the June high at 1.2784 would indicate that a bottom is being formed (not favoured).” 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 Beijing casts doubt on state of trade talks after Trump says it wanted a deal – SCMP FX Street 4 years According to Karen Jones, analyst at Commerzbank, GBP/USD has failed on the initial test of its 3-month down channel at 1.2272, and look for this to hold the initial test. Key Quotes "Dips lower will find minor support at 1.2108 ahead of the 1.2015 recent low and TD support at 1.1988. Below 1.1988 lies the 1.1491 3 rd October low (according to CQG). Only a close above the downtrend would introduce scope to the 55 day ma at 1.2399 and the June high at 1.2784." "Only a rise above the June high at 1.2784 would indicate that a bottom is… 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.
