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Forex Flash: GBP/USD bearish, targeting 1.4966 - Commerzbank
FXstreet.com (Barcelona) - Matchless's rejection from the 200-week MA -at 1.6594- has extended below key support at 1.5783/86; July low and the 38.2% retracement of the 2010-2011 upmove , and according to the Commerzbank Detailed Analysis Research Team, technical indicators point out to further decline, with the weekly end at 1.4966. On a weekly basis, the Commerzbank Technical Analysis Research Together, observe bearish pressure towards 1.4966: "Weekly technical indicators are negative. The weekly RSI continues to thought lower and the weekly DMI has registered a sell signal for the first time since January 2011.On a weekly vista we are bearish and target the 1.4966 2009-2011 uptrend."
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