GBP/USD are on the verge of a correction? – Commerzbank

The picture bullish for the pair GBP/USD faced some difficulties in the short term, said Karen Jones, Commerzbank.

Statements key:

“The new highs in the GBP/USD registered last week were not confirmed by the daily RSI, which is showing signs of a triple divergence. This suggests that the bullish momentum has slowed and the focus has returned to its bullish trend in the short term, currently at 1.3003. We also have resistance TD in 1.3205”.

“It has a bullish trend in the short term at 1.3003 and the 20-day moving average at 1.2997, while over here, it appears the offer. This protects the support around 1.2775/50”.

“Above 1.3205, the objective becomes to be the maximum of September in 1.3446”.

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