CB: GBP/USD to correct to $1.69
Strategists at Commerzbank expect GBP/USD to retace lower to $1.6900 in the coming days.
“Dips lower are indicated to terminate ahead of 1.6905/1.6875 for an attempt on the 1.7041/51 2009 high, 2005 low, where we suspect that the market will again fail. Below 1.6840 would alleviate immediate upside pressure and trigger a sell off to the 7 month support line at 1.6772", economists add.
Chart. H4 GBP/USD