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Forex pairs in this Article » GBP/USD
FXStreet (Guatemala) - GBP/USD bouncing nicely and back into bullish territory again testing he 1.6650 resistance level.

Karen Jones, chief analyst a Commerzbank explained, “While we acknowledge that the Elliott wave counts on the daily,weekly and monthly charts indicate that this is the end phase of the move we remain unable to rule out an extension to the 1.7041 2009 peak (although this is not our favoured scenario). The market will need to break back below 1.6550 in order to re-focus on the 1.6259/29 support which remains key (September high and the 23.6% retracement of the move up from July 2013)”.

GBP/USD Levels

The 20 DMA is 1.6525, the 50 DMA is 1.6468 and the 200 DMA is 1.5903. RSI (14) reads 47.81. Supports are ascending from 1.6538, 1.6559,
1.6594, 1.6650. Resistances are 1.6688,1.6725 and 1.6745.
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