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16 Apr 2014
GBP/USD could extend to 1.6822 – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the recovery in the GBP/USD could push for another visit of 1.6822.
Key Quotes
“GBP/USD has recovered off 1.6680 and remains capable of re-challenging the 1.6822 recent high”.
“The Elliott wave count on the intraday charts is giving conflicting signals but it now looks less likely to extend to 1.6900. It is looking more likely that the market will simply fail here at the previous highs”.
“Dips will find minor support at 1.6680. Ahead of trend line support at 1.6585 and key support at 1.6470”.
Key Quotes
“GBP/USD has recovered off 1.6680 and remains capable of re-challenging the 1.6822 recent high”.
“The Elliott wave count on the intraday charts is giving conflicting signals but it now looks less likely to extend to 1.6900. It is looking more likely that the market will simply fail here at the previous highs”.
“Dips will find minor support at 1.6680. Ahead of trend line support at 1.6585 and key support at 1.6470”.