Trader, analyst and instructor with a 6-year experience

Commerzbank: GBP/USD capped

Commerzbank strategists suggest that GBP/USD has found short-term support at $1.5954. However, they expect the current September high at $1.6160 to cap the upside.

Analysts point that the market needs to close below $1.5735 (3-month uptrend) in order to confirm that it has topped short term and to trigger losses to $1.5430 and $1.5104.

Chart. Daily GBP/USD


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