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GBP/USD could stab 1.5442 – Commerzbank

FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analyst at Commerzbank, spot could test the 1.5440 area.

Key Quotes

GBP/USD’s bounce is reaching tougher resistance and we should see this now start to struggle”.

“We note that the Elliott wave count is more positive and while the market intraday holds over 1.5230/25 there is a risk of a move towards the 1.5442 55 day ma and the 1.5519 cloud”.

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