OctaFX | OctaFX Forex Broker
Open trading account

GBP/USD could resume the downside – Commerzbank

FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the pair could resume its decline in the near term.

Key Quotes

GBP/USD strength last week is viewed as a correction only and we look for failure and resumption of downside pressure”.

“The charts are indicating that we will see failure circa 1.6565 and ahead of 1.6644/46 – the September high and the 200 month ma”.

“This together with the 200 day ma at 1.6689 to expected to cap the topside”.

“Support is found at 1.6290 and 1.6160 ahead of the 1.6053 recent low”.

“Longer term we look for losses back to 1.6007/00 (200 week ma and 50% retracement of the move up from 2013) then 1.5721 the 61.8% retracement of the move from 2013”.

AUD/USD could re-visit0.8885/95 – Westpac

Analysts at Westpac Global Strategy Group see the pair slipping towards the upper-0.8800s in the near term...
Read more Previous

ECB's Praet: Central Banks observing Fed moves

Speaking in Berlin on Monday ECB Executive Board member Peter Prate said that the US monetary policy decisions were closely followed by other central banks as they have to take them into account when shaping their own policies.
Read more Next
Start livechat