Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted technicals are suggesting a potential test of the 1.3345/1.3470 band. Key Quotes “GBP/USD charted a key day reversal yesterday. When we couple this with the TD perfected set up on the weekly chart it is time to exit short positions. The market was approaching strong support offered by the 1.3040 October 2017 low, and the 50% retracement at 1.2918 and looks to have reversed just ahead of here. The Elliott wave count is suggesting scope for a correction into the 1.3345/1.3470 band”. “Below 1.2918 would be treated as the break down point to 1.2580, the 61.8% retracement from 2016″. 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/CHF Technical Analysis: a bearish double-top formation on H4 FX Street 3 years Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted technicals are suggesting a potential test of the 1.3345/1.3470 band. Key Quotes "GBP/USD charted a key day reversal yesterday. When we couple this with the TD perfected set up on the weekly chart it is time to exit short positions. The market was approaching strong support offered by the 1.3040 October 2017 low, and the 50% retracement at 1.2918 and looks to have reversed just ahead of here. The Elliott wave count is suggesting scope for a correction into the 1.3345/1.3470 band". "Below 1.2918 would be treated as the break… 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.
