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GBP/USD initial support lines up at 1.5027 – Commerzbank

FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could face initial support in the 1.5030/25 area.

Key Quotes

GBP/USD continues to recover near term and currently we remain unable to rule out an extension to the 1.5299 3 month downtrend. This together with the 200 day ma at 1.5322 is expected to hold the topside”.

“We have initial support at 1.5027 (6th November low) ahead of key support is the 1.4897/60 recent low and Fibo. Support at 1.4860 is regarded as the last defence for the 1.4577 April low”.

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