Commerzbank: GBP/USD correction lower to come to an end?

Market news

6 March 2019

Commerzbank: GBP/USD correction lower to come to an end?

Karen Jones, analyst at Commerzbank, suggests that the GBP/USD correction lower is approaching its corrective target zone circa 1.3060-1.3000.

“Provided it recovers from this vicinity we should see the market rally towards the 1.3363 July 2018 high. Overall target remains the 1.3599 200 week MA. Below 1.3000 lies the near term support line at 1.2925 ahead of a double Fibo retracement at 1.2900/1.2895. This guards the recent low at 1.2772.”

Eurozone: construction activity growth accelerated in February

UK business minister Clark: UK will set out tariff plan only if decides to leave EU with no deal

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.