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16 Mar 2015
GBP/USD: Below 2013 lows opens scope to 1.4291/29 - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank noted the conditions surrounding the pound in a technical snapshot.
Key Quotes:
"GBP/USD saw another aggressive sell off last week."
"The market has reached and exceeded 1.4813, the 2013 low. The close below here introduces scope to 1.4291/29, the 78.6% retracement of the move from 2009 and the 2010 low."
"We notice that the weekly RSI has yet to confirm the move lower and some caution is needed. Intraday rallies are indicated to terminate 1.4880/1.4985."
"The near term accelerated downtrend is located at 1.5012 and while capped here the market remains directly offered. Key resistance remains the 1.5550 recent high."
Key Quotes:
"GBP/USD saw another aggressive sell off last week."
"The market has reached and exceeded 1.4813, the 2013 low. The close below here introduces scope to 1.4291/29, the 78.6% retracement of the move from 2009 and the 2010 low."
"We notice that the weekly RSI has yet to confirm the move lower and some caution is needed. Intraday rallies are indicated to terminate 1.4880/1.4985."
"The near term accelerated downtrend is located at 1.5012 and while capped here the market remains directly offered. Key resistance remains the 1.5550 recent high."