In view of Karen Jones, analyst at Commerzbank, GBP/USD is currently seeing a stronger near term recovery from support at the 61.8% retracement at 1.2196. Key Quotes “The near term rally has reached initial resistance at 1.2385 and a close above here (which so far has not been seen) would introduce scope to the 1.2582 20th September high. Further up strong resistance between the seven month resistance line, 200 day ma and the June high at 1.2628/1.2784 caps the market.” “Below 1.2196 lies the early and mid-August lows at 1.2080/15 and major support lies 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 Bitcoin (BTC) bulls must defend $8,000 for dear life FX Street 3 years In view of Karen Jones, analyst at Commerzbank, GBP/USD is currently seeing a stronger near term recovery from support at the 61.8% retracement at 1.2196. Key Quotes "The near term rally has reached initial resistance at 1.2385 and a close above here (which so far has not been seen) would introduce scope to the 1.2582 20th September high. Further up strong resistance between the seven month resistance line, 200 day ma and the June high at 1.2628/1.2784 caps the market." "Below 1.2196 lies the early and mid-August lows at 1.2080/15 and major support lies at the 1.1958 current September low."… 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.
