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GBP/USD under pressure, 1.5200 on sight – Commerzbank

FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could test the 1.5202/00 area.

Key Quotes

GBP/USD took out the 20 day ma and the market is now under pressure to retest 1.5202/00 the low from mid October”.

“Failure here is required to retarget the 1.5172/55 June and September lows on route to the 1.5108 1st October low”.

“The more important 1.5086/1.5000 support, which is the 61.8% retracement and psychological support is likely to provide strong support”.

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