In view of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, Cable could extend the upside as long as the 1.2400/1.2365 band underpins. Key Quotes “GBP/USD rapidly bounced off the 61.8% retracement at 1.2196, neutralising our forecast. The rally is approaching the 1.2713 200 day ma and shortly above here we find the 55 week ma sat 1.2753 and the 1.2784 June high. We suspect that these will hold, but while dips lower hold over 1.2400/1.2365 it will remain capable of further upside probes. The short term up channel lies at 1.2222″. “1.2365 guards 1.2222 and 1.2196/94″. “Above 1.2785 targets the 200 week ma at 1.3156″. 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 climb further and test 109.00 – UOB FX Street 4 years In view of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, Cable could extend the upside as long as the 1.2400/1.2365 band underpins. Key Quotes "GBP/USD rapidly bounced off the 61.8% retracement at 1.2196, neutralising our forecast. The rally is approaching the 1.2713 200 day ma and shortly above here we find the 55 week ma sat 1.2753 and the 1.2784 June high. We suspect that these will hold, but while dips lower hold over 1.2400/1.2365 it will remain capable of further upside probes. The short term up channel lies at 1.2222". "1.2365 guards 1.2222 and 1.2196/94". "Above… 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.
