Cable recent sell off appears to have opened the door for a potential visit to the psychological 1.3000 handle, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes “GBP/USD is in marginal new lows for the year and looks set to tackle psychological support at 1.3000. We note that the daily RSI has not confirmed the new low and directly below here lies Fibonacci support at 1.2918 (50% retracement of the move up from 2016) and it is possible that we will see some profit taking here. Below 1.2918 would be treated as the break down point to 1.2580, the 61.8% retracement from 2016″. “The market stays offered below 1.3363, 9 th July 2018 high. Initial resistance is the 20 day ma at 1.3195 and the 1.3318 55 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 EUR/USD is closer to a breaking point Yohay Elam 5 years Cable recent sell off appears to have opened the door for a potential visit to the psychological 1.3000 handle, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes "GBP/USD is in marginal new lows for the year and looks set to tackle psychological support at 1.3000. We note that the daily RSI has not confirmed the new low and directly below here lies Fibonacci support at 1.2918 (50% retracement of the move up from 2016) and it is possible that we will see some profit taking here. Below 1.2918 would be treated as the break down point… 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.
