GBP/USD has just emerged above 1.25, up 0.25% on a day, amidst general US dollar weakness. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, targets the 1.2684 200-DMA after the initial resistance at 1.2517. Key quotes “GBP/USD has recovered off the 1.2247 mid-April low. Initial resistance is the 20-day ma at 1.2517 and this guards the 200-day ma at 1.2684 and we suspect this may hold the initial test. Above 1.2684 targets the 78.6% retracement at 1.2818 (of the move down from the March peak) and the 200-week ma at 1.2911.” “Below the 1.2247 support lies the 1.2203 channel and while above here we will assume an upside bias.” 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/JPY: Upside momentum gathers extra pace – UOB FX Street 3 years GBP/USD has just emerged above 1.25, up 0.25% on a day, amidst general US dollar weakness. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, targets the 1.2684 200-DMA after the initial resistance at 1.2517. Key quotes “GBP/USD has recovered off the 1.2247 mid-April low. Initial resistance is the 20-day ma at 1.2517 and this guards the 200-day ma at 1.2684 and we suspect this may hold the initial test. Above 1.2684 targets the 78.6% retracement at 1.2818 (of the move down from the March peak) and the 200-week ma at 1.2911.” “Below the 1.2247 support lies the 1.2203… 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.
