Feb 26, 2013
Forex Flash: GBP/USD may rebound to 1.5375 and 1.5525 ahead of more losses - Commerzbank
The GBP/USD is expected to consolidate some of the past losses ahead of further weakness, possibly rebounding to 1.5375 and 1.5525. "The market sold off aggressively last week slicing through the 1.5271/35 target with ease", wrote analyst Karen Jones. "This is extremely negative price action and beyond a rebound we look for losses to 1.5000/15 and then 1.4853, the 61.8% retracement of the 2009 move", she added.