You are not logged in.

#1 16-05-2018 09:08:11

Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 2358

GBP/USD: Commerzbank has a short-term target at 1.3394, if...

GBP/USD: Commerzbank has a short-term target at 1.3394, if 1.3458 is broken through

Following the recent trough, Commerzbank has updated its stance on the GBP/USD last night.

The bank notes that the pair surpassed last week's 200-day moving average, and hit the January 2018 trough at 1.3458 on Monday, before rising above.

Commerzbank notes that as long as the pair has not been broken below this threshold, there is the risk of a rebound.

Intraday rallies should remain stuck below 1.3695/1.3712 (March trough).

If the downturn falls below 1.3458, Comerzbank posts a target at 1.3394 corresponding with the 55-week moving average. In the longer term, the October 2017 trough at 1.3040 may be the next target.

"Anything worth having is worth going for - all the way." - J.R. Ewing



Board footer