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Forex Flash: GBP/USD scope to test 2009/2013 downtrend while above 1.5968 - Commerzbank

By FXstreet.com,  January 16, 2013, 04:41:00 AM EDT

FXstreet.com (Barcelona) - The GBP/USD is easing from the 1.6178/80 resistance and, despite the fairly neutral outlook, the pair is looking at the 1.5968 7 month uptrend: "While this is intact scope remains to test the 2009-2013 downtrend at 1.6450", wrote analyst Karen Jones, warning that failure there would trigger losses to 1.5873/30 key support (55 and 200 week ma and the November low). "The market faces daunting resistance 1.6310/1.6450 and is expected to again fail here", the Commerzbank analyst added.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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