CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the High risk of losing your money.

GBP/USD upside is seen as corrective – Commerzbank

2018-2-14 18:15:52Trading Strategies
GBP/USD upside is seen as corrective – Commerzbank

Cable’s current recovery is considered as corrective only, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.


Key Quotes


“GBP/USD is seeing a minor near term recovery, this is viewed as corrective only while the rally is capped by 1.4011/67 (6 th February high and 20 day ma). While capped here attention is on the 1.3658 September peak. Key medium term support is the 1.3399 2016-2018 uptrend. We continue to view 1.4345 as an interim top for the market and look for further weakness”.


“Above 1.4400, the April 2015 low can be seen at 1.4568”