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26 Aug 2013
Flash: GBP/USD drops towards the 200 day moving average at 1.5515 - Commerzbank
FXstreet.com (Barcelona) - Axel Rudolph, Senior Technical Analyst at Commerzbank notes that GBP/USD has come close to but did not quite reach the uptrend channel resistance line, 200 week moving average and the June peak at 1.5716/55 before rapidly declining.
Key Quotes
“Another interim top is now likely to be in place. For this to be confirmed it will have to fall through the mid-August low at 1.5424.”
“En route are the 200 day moving average at 1.5515 and the 1.5432 July high.”
Key Quotes
“Another interim top is now likely to be in place. For this to be confirmed it will have to fall through the mid-August low at 1.5424.”
“En route are the 200 day moving average at 1.5515 and the 1.5432 July high.”