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1 Mar 2013
Forex Flash: GBP/USD would face further downside – Commerzbank
The sterling pierced the psychological 1.5000 handle for a few moments, although it still remains hovering over the area, as the bearishness continues to drive risk-associated assets to fresh lows, and in this particular case, to levels last seen in July 2010
Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested that technical studies – Elliot wave count – would infer a bounce to 1.5265, even 1.5380, just to fall afterwards. “While capped by the 1.5554 accelerated downtrend an immediate downside bias is maintained”, concluded the expert.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested that technical studies – Elliot wave count – would infer a bounce to 1.5265, even 1.5380, just to fall afterwards. “While capped by the 1.5554 accelerated downtrend an immediate downside bias is maintained”, concluded the expert.