Market Analytics

Commerzbank: comments on GBP/USD

Friday, February 17, 2012 - 13:30

Analysts at Commerzbank claim that British pound may rise higher versus the greenback testing 200-day MA at $1.5919.

The specialists note, however, that sterling’s advance will be limited, if not by this level, then by the next resistance at $1.5967 and $1.6016 (55-week MA).

According to the bank, support for the pair GBP/USD lies at $1.5603/1.5580 (55-day MA and 50% Fibonacci retracement).

Chart. Daily GBP/USD

 

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