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17 Apr 2014
GBP/USD hit fresh multi-year highs – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, observed the sterling is trading at fresh multi-year highs vs. the greenback near 1.6840.
Key Quotes
“The Elliott wave count on the intraday charts are saying that we will see an extension to 1.6900”.
“Slightly longer term the weekly and monthly charts are indicating that this is the end of the move, however the market could reach 1.7041, the August 2009 peak ahead of failure”.
“Dips will find minor support at 1.6680, ahead of trend line support at 1.6592 and key support at 1.6470”.
Key Quotes
“The Elliott wave count on the intraday charts are saying that we will see an extension to 1.6900”.
“Slightly longer term the weekly and monthly charts are indicating that this is the end of the move, however the market could reach 1.7041, the August 2009 peak ahead of failure”.
“Dips will find minor support at 1.6680, ahead of trend line support at 1.6592 and key support at 1.6470”.