According to Karen Jones, analyst at Commerzbank, GBP/USD pair has recently eroded its short term downtrend and this is now acting as support at 1.2967. Key Quotes “The intraday Elliott wave count has turned more positive and we have already reached 1.3188/97, the 61.8% retracement and 3rd April high. It will need to regain 1.3217 (25th January high) to introduce scope up to the 1.3351/82 resistance, where we expect it to struggle. Dips lower should hold around the 200 day ma at 1.2960. Failure here targets the 1.2865 April low and this in turn protects the February low at 1.2772.” “Below 1.2772 we would allow for losses to the 1.2669/62 15th January low and August low and possibly the 1.2609/78.6% retracement.” 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 Canada: BoC Governor Poloz speech in focus – TDS FX Street 3 years According to Karen Jones, analyst at Commerzbank, GBP/USD pair has recently eroded its short term downtrend and this is now acting as support at 1.2967. Key Quotes "The intraday Elliott wave count has turned more positive and we have already reached 1.3188/97, the 61.8% retracement and 3rd April high. It will need to regain 1.3217 (25th January high) to introduce scope up to the 1.3351/82 resistance, where we expect it to struggle. Dips lower should hold around the 200 day ma at 1.2960. Failure here targets the 1.2865 April low and this in turn protects the February low at 1.2772."… 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.
