11 Jan 2016
GBP/USD bearish below 1.4673 – Commerzbank
FXStreet (Edinburgh) - In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the outlook on the pair remains bearish while below the 1.4673 level.
Key Quotes
“GBP/USD last week sold off to, tested and eroded on a closing basis the 1.4568 2015 low”.
“Currently intraday Elliott counts are suggesting that the down move is exhausted for now but while capped by the accelerated downtrend at 1.4673 we will continue to look for losses to 1.4385 the 30 year support line”.
Key Quotes
“GBP/USD last week sold off to, tested and eroded on a closing basis the 1.4568 2015 low”.
“Currently intraday Elliott counts are suggesting that the down move is exhausted for now but while capped by the accelerated downtrend at 1.4673 we will continue to look for losses to 1.4385 the 30 year support line”.