Apr 23, 2013
Forex Flash: GBP/USD focus is on 1.5190 support – Commerzbank
FXstreet.com (Barcelona) - Commerzbank analysts see market’s focus still on the channel support, currently at 1.5190, and 1.5412/20 (recent high and the 38.2% retracement) as an interim high. “Loss of the 1.5190 uptrend is needed to 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). We also find the 61.8% retracement here at 1.5052 and we may see this hold the initial test”, wrote analyst Karen Jones, pointing to another leg lower to the 1.4832 March low in case of another break. “Longer term we target 1.4229, the 2010 low”, she added.