GBP/USD offered below 1.4925/1.5000 – Commerzbank

By FXStreet FXStreet (Edinburgh) – According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair remains offered when trading below the 1.4925/1.5000 band.

Key Quotes

“GBP/USD has sold of to tested and so far held on a closing basis the 1.4568 2015 low, the new low has not been confirmed by the daily RSI”.

“Currently intraday Elliott counts are suggesting that the down move is exhausted for now and we note 13 counts on both the 60 and 240 minute charts”.

“Rallies should struggle 1.4925/1.5000 and while capped here the market will remain offered”.
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Source:: FX Street