GBP/USD support appears at 1.5100/1.5060 – Commerzbank

By FXStreet FXStreet (Edinburgh) – Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees pullbacks in the pair to face support around 1.5100/1.5060.

Key Quotes

“GBP/USD has seen a major reversal just ahead of the 1.4860/78.6% retracement of the move up from April”.

“This is already approaching the short term downtrend at 1.5200, and intraday dips are indicated to terminate circa 1.5100, 1.5060”.

“There is scope for an extension to the 1.5249 55 day ma and the 1.5338 3 month downtrend”.
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Source:: FX Street