Comments and forex-analytics from FBS Brokerage Company - page 32
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Commerzbank: comments on GBP/USD
Technical analysts at Commerzbank note British pound will test one-year uptrend support line at 1.6082/45 trading versus the greenback. In their view, these levels will be able to hold initial bearish attack.
However, the specialists think that the longer-term bullish trend is wearing out as sterling gets closer to 200-week MA at 1.6969. The strategists also underline that the weekly RSI has turned lower.
According to the bank, if the pair GBP/USD falls below 1.6074/45, it will be poised down to 1.5935 and 1.5683 (55-week MA).