Apr 18, 2013
Forex Flash: GBP/USD confirms resumption of down move with loss of 1.5154 - Commerzbank
FXstreet.com (Barcelona) - The GBP/USD has finally sold off, which confirmed 1.5412/20 (recent high and the 38.2% retracement) as an interim high. “Loss of the 1.5154 uptrend will add weight to the idea that the market has resumed its down move. Below here will trigger losses to the 1.5028 (the 20th March low)”, wrote analyst Karen Jones, pointing to 1.5052 (61.8% retracement) as next support. “A break below here is needed to trigger another leg lower to the 1.4832 March low. Longer term we target 1.4229, the 2010 low”, Jones added.