25 Sep 2013
Flash: GBP/USD has slipped back below the 1.6000 mark-Commerzbank
FXstreet.com (Athens)- Karen Jones, Head Technical Analyst at Commerzbank suggests that the GBP/USD is starting to break down.
Key Quotes
“The accelerated uptrend has given way and given the weekly TD perfected set up and the 2009-2013 downtrend at 1.6331 directly overhead, the risk has shifted to the downside.”
“Attention shifts to the 1.5718 3 month uptrend. The market will need to close below here to confirm the market has topped short term and trigger losses to 1.5430 then 1.5104.”
Key Quotes
“The accelerated uptrend has given way and given the weekly TD perfected set up and the 2009-2013 downtrend at 1.6331 directly overhead, the risk has shifted to the downside.”
“Attention shifts to the 1.5718 3 month uptrend. The market will need to close below here to confirm the market has topped short term and trigger losses to 1.5430 then 1.5104.”