FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the likeliness of the pair to grind lower to the 200d-MA around 1.5245.
Key Quotes
“GBP/USD has extended gains to 1.5678, the 78.6% retracement and we have seem initial failure here”.
“We should see a slide back to key nearby support offered by the 200 day ma and last weeks low at 1.5345/29”.
“Below 1.5325 will target 1.5172 the June low. Failure here will trigger losses to 1.5088, the 61.8% retracement then 1.4895, the 78.6% retracement”.
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