According to Karen Jones, analyst at Commerzbank, GBP/USD pair has sold off to the 50% retracement at 1.2830 and the 55 day ma at 1.2813 and is bouncing from these supports. Key Quotes “We would allow for stabilisation here, however to reassert upside pressure a move back above the 200 day ma at 1.3017 is needed. Above here should be enough to cast our eyes back to the 1.3217 recent high. The 55 day ma guards the 1.2669/62 mid-January and August lows. The intraday Elliott wave counts remain negative.” “Overhead lies the 55 week ma at 1.3254. Here we also find the July, September and October highs at 1.3258/1.3363. We suspect that this will hold and provoke failure. Above here would target the June high at 1.3473 and the 200 week ma at 1.3630 (not favoured).” 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 EUR/SEK in 5-day lows near 10.4400 post-Riksbank FX Street 4 years According to Karen Jones, analyst at Commerzbank, GBP/USD pair has sold off to the 50% retracement at 1.2830 and the 55 day ma at 1.2813 and is bouncing from these supports. Key Quotes "We would allow for stabilisation here, however to reassert upside pressure a move back above the 200 day ma at 1.3017 is needed. Above here should be enough to cast our eyes back to the 1.3217 recent high. The 55 day ma guards the 1.2669/62 mid-January and August lows. The intraday Elliott wave counts remain negative." "Overhead lies the 55 week ma at 1.3254. Here we also… 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.
