14 Mar 2016
GBP/USD bearish below 1.4664 – Commerzbank
In view of Axel Rudolph, Senior Technical Analyst at Commerzbank, the pair’s outlook remains offered below 1.4664.
Key Quotes
“GBP/USD tries to overcome the 55 day moving average at 1.4380. If bettered, a rise towards the 1.4664 February high may well ensue”.
“While the 1.4664 February high caps, our downside target of 1.3502, the 2009 low, will remain intact”.
“Below 1.3500 our primary target will be 1.2750, the 78.6% retracement. The January low at 1.4083 should act as nearby support”.
Key Quotes
“GBP/USD tries to overcome the 55 day moving average at 1.4380. If bettered, a rise towards the 1.4664 February high may well ensue”.
“While the 1.4664 February high caps, our downside target of 1.3502, the 2009 low, will remain intact”.
“Below 1.3500 our primary target will be 1.2750, the 78.6% retracement. The January low at 1.4083 should act as nearby support”.