OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD: Consolidating at the moment – Commerzbank

GBP/USD pair is consolidating as the recent move to 1.2479/77 was not confirmed by the daily RSI and we are seeing a small rebound, points out Karen Jones, analyst at Commerzbank.

Key Quotes

“While rallies remain capped by the 20 day ma at 1.2692 and this weeks high at 1.2706, however, we will regard the market as vulnerable on the downside. Below 1.2477 targets the 78.6% retracement at 1.2109. Above the 20 day ma lies the 1.2840 current December high but while capped by the resistance line at 1.2928 it will remain offered.”

“Only a rise above the July, September and October highs at 1.3258/1.3363 would put the June high at 1.3473 on the cards.”

AUD/USD hangs near 7-week lows, around 0.7100 handle

   •  The not so dovish FOMC statement prompted some aggressive selling overnight.    •  Mixed Aussie employment details did provide a short-lived bo
Read more Previous

China’s Commerce Ministry: There are plans to hold further trade talks with the US

China’s Commerce Ministry is out with the latest comments, via Reuters, with the key headlines found below. Latest call saw both parties exchange vie
Read more Next
Start livechat