- Analytics
- News and Tools
- Market News
- GBP/USD: another test of 1.30 is not ruled out – Commerzbank
GBP/USD: another test of 1.30 is not ruled out – Commerzbank
Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, suggested Cable could attempt another test of 1.30 provided the decline holds around the 1.2784/64 band.
“GBP/USD came under increasing pressure last week and starts this week sitting just above the 1.2784 25th June high and the 1.2764/23.6% retracement. It should hold here for another attempt at the psychological resistance at 1.3000. Failure will see a slide to the 200 day ma at 1.2703. Directly above here we have the 200 week ma at 1.3122 and the 1.3187 May high and these remain our short term targets, and we look for the market to be capped here. The 200 day ma at 1.2703 guards 1.2582. Below 1.2582 lies the 1.2382 17th July low and the 1.2403 uptrend. The uptrend guards 1.2196/94”.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
