More from FXstreet.com

Forex Flash: GBP/USD to fail at 1.6167 resistance – Commerzbank

By FXstreet.com,  April 24, 2012, 02:31:00 AM EDT

FXstreet.com (Barcelona) - Resistance at 1.6167 is the October 2011 high and 61.8% Fib of 2011-2012 move. "We suspect that this will hold the initial test and provoke failure", wrote Commerzbank analyst Karen Jones, pointing to initial support at 1.5984, followed by key downside area at 1.5874, and then, the 200-day MA at 1.5843.

"Above 1.6170 and we will have to capitulate and just go with it. This would introduce scope to 1.6425/the 78.6% retracement of the move down from the 2011 peak", Jones adds.




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

Referenced Stocks:



Latest News Video

'Illegal' Video Call From Mt. Everest
'Illegal' Video Call From Mt. Evere...
Chicago Facing 'Pollen Tsunami'
Chicago Facing 'Pollen Tsunami'     
Blind Man Gets Sight From Stem Cell Procedure
Blind Man Gets Sight From Stem Cell...
Nikkei Suffers Biggest Loss in Two Years
Nikkei Suffers Biggest Loss in Two ...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.31 0.13  0.97%
PFE $ 29.30 0.52  1.81%
GE $ 23.86 0.20  0.85%
F $ 14.97 0.02  0.13%
MSFT $ 34.61 0.24  0.69%
QQQ $ 73.65 0.62  0.83%
MU $ 10.92 0.31  2.76%
INTC $ 24.07 0.08  0.33%