Back
13 Jan 2016
GBP/USD downside pressure intact below 1.4616 – Commerzbank
FXStreet (Edinburgh) - In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, a close above 1.4616 is necessary to alleviate downside pressure.
Key Quotes
“GBP/USD has seen an acceleration lower to 1.4385 the 30 year support line (low reached was 1.4353). We note the 13 count and the TD perfected set up on the daily chart and would recommend exiting shorts. The daily RSI at 15 is also oversold”.
“Directly above the market lies the accelerated downtrend at 1.4616, in order to alleviate downside pressure, a close above here will be needed”.
Key Quotes
“GBP/USD has seen an acceleration lower to 1.4385 the 30 year support line (low reached was 1.4353). We note the 13 count and the TD perfected set up on the daily chart and would recommend exiting shorts. The daily RSI at 15 is also oversold”.
“Directly above the market lies the accelerated downtrend at 1.4616, in order to alleviate downside pressure, a close above here will be needed”.