CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the High risk of losing your money.

GBP/USD: Neutral to slightly positive outlook - Commerzbank

2019-06-21 14:55

Karen Jones, analyst at Commerzbank, suggests that the GBP/USD’s outlook is neutral to slightly positive after the slide lower recently halted at 1.2532.



Key Quotes



“The new low was accompanied by a large divergence of the daily RSI and the market has eroded the accelerated downtrend. Rallies will need to regain the more important 1.2763/72 resistance (the 7 th June high and February low) in order to generate some upside interest. This will target the 200 day ma at 1.2929.”



“Below 1.2532 would target the 1.2444 December 2018 low. This is the last defence for 1.2108, the 78.6% retracement of the move up from 2016.”


This article is published only for general use basic informatory purposes and should not be considered or depended on as a financial or investment advice. Investors should make sure that they understand the risks and seek independent financial advice at all times. CFDS ARE COMPLEX INSTRUMENTS AND COME WITH A HIGH RISK OF LOSING MONEY RAPIDLY DUE TO LEVERAGE.

Economic news

    Exchange Rates

    GBPUSD -0.06% 1.3133
    EURUSD -0.07% 1.18453
    XAUUSD -0.25% 1919.82
    XTIUSD -0.39% 39.874
    NAS100 -0.46% 11630.8
    US30 -0.51% 28077.4