GBP/USD could surpass 1.5600 – Commerzbank

FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, there is the chance that the pair could reach levels above 1.5600 the figure.

Key Quotes

“GBP/USD has seen a strong rebound from 1.5325/30 – enough to suggest further upside potential to 1.5540 possibly 1.5615, the August high”.

“This guards the 1.58175 recent high. Intraday dips are indicated to halt 1.5450 ahead of anther punch higher through the 1.5520 55 day ma”.

“Below 1.5325 will target 1.5172 the June low. Failure here will trigger losses to 1.5088, the 61.8% retracement then 1.4895, the 78.6% retracement”.