FXStreet (Edinburgh) – According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the outlook for the pair remains positive while above the mid-1.5300s.
Key Quotes
“GBP/USD is struggling to clear the 20 day ma at 1.5450 near term”.
“Currently we view the market as bid while above the 200 day ma at 1.5350”.
“The intraday Elliott wave count is now more positive and the risk has increased for near term strength”.
“Above lies 1.5530 (55 day ma), the 1.5615 August high and the 1.58175 recent high. Currently a rally to 1.5540-1.5615 would be allowed for”.
(Market News Provided by FXstreet)