24 Feb 2016
GBP/USD weaker, targets 1.3905 – Commerzbank
In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair now targets 2009 low at 1.3905.
Key Quotes
“GBP/USD has eroded the 1.4083 January low on a closing basis and targets 1.3502 the 2009 low”.
“We note the 13 count on the 240 minute chart and would use rallies to 1.4130/1.4225 to sell into. is. Below 1.3500 our primary target will be 1.2750 the 78.6% retracement at 1985”.
Key Quotes
“GBP/USD has eroded the 1.4083 January low on a closing basis and targets 1.3502 the 2009 low”.
“We note the 13 count on the 240 minute chart and would use rallies to 1.4130/1.4225 to sell into. is. Below 1.3500 our primary target will be 1.2750 the 78.6% retracement at 1985”.