27 Oct 2014
Credit Suisse: GPB/USD capped at 1.61601 - eFXnews
FXStreet (Łódź) - The eFXnews team comment that Credit Suisse sees GBP/USD capped below the 21-day average at 1.6160.
Key quotes
"This leaves the focus on support next at 1.5941."
"Capitulation below here would refocus attention back on more important price levels at 1.5875/54."
"We would again look for an attempt to try and hold here."
"However, if directly removed we would see a move on to the 61.8% retracement of the 2013/2014 uptrend at 1.5752/22."
"Resistance moves to 1.6101/32 to 1.6186. Above here is needed to test the 1.6228 pivot then 1.6337/78."
"CS holds a long GBP/USD from 1.6030 targeting 1.6382."
'This content has been provided under specific arrangement with eFXnews.'
Key quotes
"This leaves the focus on support next at 1.5941."
"Capitulation below here would refocus attention back on more important price levels at 1.5875/54."
"We would again look for an attempt to try and hold here."
"However, if directly removed we would see a move on to the 61.8% retracement of the 2013/2014 uptrend at 1.5752/22."
"Resistance moves to 1.6101/32 to 1.6186. Above here is needed to test the 1.6228 pivot then 1.6337/78."
"CS holds a long GBP/USD from 1.6030 targeting 1.6382."
'This content has been provided under specific arrangement with eFXnews.'