Friday, October 2, 2015

GBP/USD downside limited? - Commerzbank

FXStreet (Barcelona) - Karen Jones, chief analyst at Commerzbank explained that GBP/USD continues to weigh on the downside.

Key Quotes:

"The market does not appear to be ready quite yet to sustain a move below 1.5086/1.5000, the 61.8% retracement. Failure here will target 1.4895, the 78.6% retracement.

Immediate resistance can be seen between the July low and the 200 day moving average at 1.5330/31. Further resistance comes in around the 1.5424 early August low."
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