Forex Flash: GBP/USD to hold at 1.5622 near term, targets 1.5271/35 on the long run - Commerzbank
Forex pairs in this Article » GBP/USD
FXstreet.com (Barcelona) - As the GBPUSD remains under pressure after last week's plunge, on course for the 2009-2013 support line (this week at 1.5622), they would expect to see this hold the initial test, and as a consequence "we would tighten up stops on short positions". "Longer term, we in fact favor a break below here to 1.5271/35, the 2012 low. While capped by the accelerated downtrend at 1.5859 and the 200 day m.a at 1.5900 it will remain directly offered", wrote analyst Karen Jones, looking to reinstate shorts at 1.5830 and 1.5870, and place a stop over 1.5905, while covering at 1.5650.