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GBP/USD could see a small squeeze higher – Commerzbank

FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the possibility of a small rebound in the pair.

Key Quotes

GBP/USD has seen a small rebound from the 1.5108 recent low”.

“We note the divergence of the daily RSI and look for a small corrective rebound ahead of further losses”.

“The market does not appear to be ready quite yet to sustain a move below 1.5086/1.5000, the 61.8% retracement. Failure here will target 1.4895, the 78.6% retracement”.

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