FXStreet (Edinburgh) – Karen Jones, Head of FICC Technical Analysis at Commerzbank, expects pullbacks in the pair to remain supported around 1.5060/30.
Key Quotes
“GBP/USD has seen a major reversal just ahead of the 1.4860/78.6% retracement of the move up from April”.
“This is already approaching the short term downtrend at 1.5184, and intraday dips are indicated to terminate circa 1.5060/30”.
“There is scope for an extension to the 1.5242 55 day ma and the 1.5332 3 month downtrend”.
(Market News Provided by FXstreet)