Axel Rudolph, analyst at Commerzbank, suggests that GBP/USD’s recent advance from its current September low at 1.1958 has the May and June lows at 1.2506/59 in its sights. Key Quotes “Between these levels and the mid-July high at 1.2580 the cross may short-term struggle. Further up lies strong resistance between the seven month resistance line, 200 day ma and the June high at 1.2720/84.” “Once a weekly Friday chart close above the 1.2310 August high has been made, we will change our weekly outlook to a bullish one. Minor support below yesterday’s low at 1.2233 is seen between the early and mid-August lows at 1.2080/15 and major support at the 1.1958 current September low.” “A slip through the 1.1958 recent low would put the 1.1491 October 2016 low (according to CQG) on the cards.” 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 Germany: All eyes on Budget discussion – Danske Bank FX Street 4 years Axel Rudolph, analyst at Commerzbank, suggests that GBP/USD's recent advance from its current September low at 1.1958 has the May and June lows at 1.2506/59 in its sights. Key Quotes "Between these levels and the mid-July high at 1.2580 the cross may short-term struggle. Further up lies strong resistance between the seven month resistance line, 200 day ma and the June high at 1.2720/84." "Once a weekly Friday chart close above the 1.2310 August high has been made, we will change our weekly outlook to a bullish one. Minor support below yesterday's low at 1.2233 is seen between the early… 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.
