Back
14 Mar 2013
Forex Flash: GBP/USD… sell?... buy? – UBS and Commerzbank
The sterling is extending its pronounced correction higher on Thursday, climbing more than one big figure from levels sub 1.4940 to the boundaries of 1.5060
“Any upside will be limited and resistance at 1.5015 should hold. Initial support is at 1.4832, a break below would open 1.4687”, commented Strategists G.Yu and G.Berry at UBS.
In the same line, Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested, “We do not believe that the longer term down move is over and view this as a short term correction. Longer term we look for losses to 1.4259/29, the 2010 low”. The expert remarked that upside attempts should be initially contained at 1.4992 ahead of 1.5236
“Any upside will be limited and resistance at 1.5015 should hold. Initial support is at 1.4832, a break below would open 1.4687”, commented Strategists G.Yu and G.Berry at UBS.
In the same line, Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested, “We do not believe that the longer term down move is over and view this as a short term correction. Longer term we look for losses to 1.4259/29, the 2010 low”. The expert remarked that upside attempts should be initially contained at 1.4992 ahead of 1.5236