30 Jul 2015
GBP/USD negative below 1.5730 – Commerzbank
FXStreet (Edinburgh) - The negative bias remains intact for the pair below 1.5730, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“GBP/USD has inched through its near term resistance line and took another look at the 1.5674 recent high, which has again rejected price”.
“This resistance together with a pivot line at 1.5730 keeps our overall negative bias intact”.
“The intraday Elliott wave counts are becoming more negative. A break below the 1.5517 uptrend should be enough to trigger losses to the 200 day ma at 1.5397”.
Key Quotes
“GBP/USD has inched through its near term resistance line and took another look at the 1.5674 recent high, which has again rejected price”.
“This resistance together with a pivot line at 1.5730 keeps our overall negative bias intact”.
“The intraday Elliott wave counts are becoming more negative. A break below the 1.5517 uptrend should be enough to trigger losses to the 200 day ma at 1.5397”.