Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted Cable stays on the way to test the 1.3040 region. Key Quotes “GBP/USD has sold off into new lows for the year and remains on course for the 1.3040 October 2017 low. Between here and the 50% retracement at 1.2918 we would expect to see some sort of stabilisation and/or profit taking. We note the TD perfected set up on the weekly chart and must allow for this possibility. Note that failure here would be treated as the break down point to 1.2580, the 61.8% retracement from 2016″. “The market remains on the defensive following its recent rejection from just below the 23.6% Fibonacci retracement at 1.3481. Initial resistance is the 20 day ma at 1.3318″. 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/USD sticks to the neutral bias near term – UOB FX Street 3 years Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted Cable stays on the way to test the 1.3040 region. Key Quotes "GBP/USD has sold off into new lows for the year and remains on course for the 1.3040 October 2017 low. Between here and the 50% retracement at 1.2918 we would expect to see some sort of stabilisation and/or profit taking. We note the TD perfected set up on the weekly chart and must allow for this possibility. Note that failure here would be treated as the break down point to 1.2580, the 61.8% retracement from 2016". "The market… 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.
