GBP/USD still points to 1.5171 – Commerzbank

FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the prospects for the pair remain tilted to a visit to the 1.5171 level.

Key Quotes

“GBP/USD the push up to 1.5674 is viewed as corrective only and the intraday Elliott wave counts remain negative”.

“Therefore for now, our negative bias remains intact and we look for rallies to remain capped by 1.5700 and trigger a slide towards support at 1.5171, the June low and favour losses beyond here”.