11 May 2015
GBP/USD headed for 1.5855? - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained how GBP/USD now has a gateway open to the upside having crossed key resistance.
Key Quotes:
"GBP/USD resistance at the 1.5550/70 zone, which is the February high and the 38.2% retracement of the move down from the July 2014 peak, kept the market pinned down last week."
"A close above the 1.5570 resistance will introduce scope to the 1.5785 December peak and 1.5855/80, the November 2013 low and 50 % retracement."
"Currently we are unable to rule out a move towards the 1.5896/1.5944 55 and 200 week moving averages."
"Dips will find initial support at 1.5375/1.5290 with key support offered by the 1.5093 cloud."
Key Quotes:
"GBP/USD resistance at the 1.5550/70 zone, which is the February high and the 38.2% retracement of the move down from the July 2014 peak, kept the market pinned down last week."
"A close above the 1.5570 resistance will introduce scope to the 1.5785 December peak and 1.5855/80, the November 2013 low and 50 % retracement."
"Currently we are unable to rule out a move towards the 1.5896/1.5944 55 and 200 week moving averages."
"Dips will find initial support at 1.5375/1.5290 with key support offered by the 1.5093 cloud."