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GBP/USD: Rally has steam – Commerzbank

The cable is painting a potential continuation pattern on the chart, therefore, today’s outlook for the GBP/USD pair is bullish, according to Karen Jones, an analyst at Commerzbank.

Key quotes

“GBP/USD is rallying from 1.2872 and this increasingly looks like a potential continuation pattern developing on the chart.” 

“Rallies will find initial resistance at the 55-day ma at 1.3063 ahead of the near term resistance line at 1.3120 and will need to regain this latter level on a closing basis to alleviate downside pressure and confirm the move higher to initially 1.3285.”

 

USD/JPY consolidates in a range below 110.00 mark

The USD/JPY pair lacked any firm directional bias and seesawed between tepid gains/minor losses through the Asian session on Friday. The pair failed t
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Switzerland Producer and Import Prices (YoY) came in at -1%, above forecasts (-1.5%) in January

Switzerland Producer and Import Prices (YoY) came in at -1%, above forecasts (-1.5%) in January
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