10 Dec 2013
Flash: GBP/USD in 2 year highs - Commerzbank
FXstreet.com (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank notes that GBP/USD inched higher yesterday and is in new 2 year highs.
Key Quotes
“Key nearby support are the previous highs seen at 1.6255/59 and while above here we are unable to rule out scope for a move to 1.6634/1.6735.”
“Elliott wave counts across the spectrum suggest that this is the end of the move and that the topside should be limited to 1.6565.”
“Key near term support is the 1.6259/55 previous highs from October, as failure here will cast attention back to the 5 month uptrend at 1.6087. A close below here will re-target the 1.5855 November low.”
Key Quotes
“Key nearby support are the previous highs seen at 1.6255/59 and while above here we are unable to rule out scope for a move to 1.6634/1.6735.”
“Elliott wave counts across the spectrum suggest that this is the end of the move and that the topside should be limited to 1.6565.”
“Key near term support is the 1.6259/55 previous highs from October, as failure here will cast attention back to the 5 month uptrend at 1.6087. A close below here will re-target the 1.5855 November low.”