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20 Sep 2013
Flash: GBP/USD massive acceleration places the 2009-2013 downtrend at 1.6333 in the spotlight- Commerzbank
FXstreet.com (Athens)- Karen Jones, Head of Technical Analysis at Commerzbank suggests that “GBP/USD charted an inside day yesterday and appears to be absorbing recent sharp gains.”
Key-Quotes:
“The break higher this week and has taken out all short term resistances to leave the market now focused on the 2009-2013 downtrend at 1.6333. Despite the directional move seen yesterday we continue to look for this to hold the topside.”
“Support is offered by 1.60 then the 1.5957 accelerated uptrend – while above here the market remains immediately bid. Only below here will allow for a slide back to the 1.5670 3 month uptrend.”
Key-Quotes:
“The break higher this week and has taken out all short term resistances to leave the market now focused on the 2009-2013 downtrend at 1.6333. Despite the directional move seen yesterday we continue to look for this to hold the topside.”
“Support is offered by 1.60 then the 1.5957 accelerated uptrend – while above here the market remains immediately bid. Only below here will allow for a slide back to the 1.5670 3 month uptrend.”