GBP / USD is in short-term correction mode, Commerzbank analysts say. They note that Commerzbank’s attention is on the nine-month uptrend at 1.3540 as a break below this level would pave the way to the 200-day moving average at 1.3253.
Key statements:
“GBP / USD is under pressure and our attention is on the nine-month uptrend at 1.3540.”
“It will now remain offered below the 55-day moving average at 1.3809 and the short-term downtrend at 1.3930.”
“The key resistance seen at 1.4018, the March high. “
“Below the uptrend at 1.3540, the target would be 1.3483, the September 2018 high and 1.3253, the 200-day moving average. “
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