GBP/USD stays bid - Commerzbank

Karen Jones, analyst at Commerzbank, points out that the GBP/USD met and soared through its initial target of the 200 day ma at 1.3065.

Key Quotes

“While under pinned by the near term uptrend, today at 1.2894 it stays bid and we look for gains to the 55 week ma at 1.3304. Here we also find the July, September and October highs at 1.3258/1.3363.”

“Only a rise above the July, September and October highs at 1.3258/1.3363 would put the June high at 1.3473 on the cards.”