GBP/USD outlook remains bearish – Commerzbank

By FXStreet FXStreet (Edinburgh) – In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the perspective for the pair remains tilted to the bearish side.

Key Quotes

“GBP/USD has sold off to the 1.5172 June low and is bouncing from there”.

“We note the TD perfected set up on the daily chart and would allow for a small rebound ahead of further losses”.

“Rallies are likely to struggle on moves back to the 200 day ma at 1.5354 and ideally should be contained by the 1.5425/7th August low”.

“Our outlook is bearish and we look for losses to 1.5088, the 61.8% retracement then 1.4895, the 78.6% retracement”.
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Source:: FX Street