FXStreet (Barcelona) – Karen Jones, chief analyst at Commerzbank explained that GBP/USD continues to weigh on the downside.
Key Quotes:
“The market does not appear to be ready quite yet to sustain a move below 1.5086/1.5000, the 61.8% retracement. Failure here will target 1.4895, the 78.6% retracement.
Immediate resistance can be seen between the July low and the 200 day moving average at 1.5330/31. Further resistance comes in around the 1.5424 early August low.”
(Market News Provided by FXstreet)