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17 Jun 2013
Flash: GBP/USD topping out - Commerzbank
FXstreet.com (London) - Karen Jones, Senior analyst at Commerzbank has said that the GBP/USD still probes the 200 day moving average at 1.5698.
They note the 13 count on the daily and the TD perfected set up and they suspect that we are now trading towards the end of the corrective move higher. She explains that a break below the 1.5490 June 7 low is needed to alleviate immediate upside pressure and signal a slide back to the 55 day moving average at 1.5352 en route to the base of the channel at 1.5044
They note the 13 count on the daily and the TD perfected set up and they suspect that we are now trading towards the end of the corrective move higher. She explains that a break below the 1.5490 June 7 low is needed to alleviate immediate upside pressure and signal a slide back to the 55 day moving average at 1.5352 en route to the base of the channel at 1.5044