Thread: FBS Holdings: 1.5650 – breakpoint for GBP/USD (Commerzbank)

Analysts at Commerzbank note that British pound broke down through confluence of supports (2-month uptrend line, 55-day MA and double Fibonacci). The next key level on the downside lies at 1.5650. If sterling fails here it’ll become vulnerable for a decline toward its 200-day MA at 1.5346.



Chart. H4 GBP/USD

More info about FBS

At present, the forex exchange market is considered to be the most lucrative way for corporations, hedge funds, banks and private investors to gain profits. It is also participated by government institutions through their central banks. The market is open for five business days in a week and twenty four hours a day.