GBP/USD bullish, 1.5085 on the cards? – Commerzbank

Technicals are suggesting the probability of a visit to the 1.5080 area, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

“GBP/USD is once again approaching 1.4761/68, the 200 day ma and recent high, we note the 13 count on the 60 minute chart and a TD perfected set up on the daily and would recommend that longs are exited”.

“We partially covered our longs last week and the remainder were profit stopped 1.4590”.

“Beyond some probable profit taking around the 200 day ma, the overall outlook is bullish, the upside measured target from the triangle is 1.5085”.