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14 Jan 2015
Morgan Stanley: GBP/USD might move towards 1.4858 – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes that using Morgan Stanley outlines the next targets on long-term charts for GBP/USD, anticipating that the pair might move towards 1.4858 levels.
Key Quotes
“GBPUSD entered the 5th downward trend from the peak of 1.7192 in July 2014, suggesting completion below the 3rd wave low at 1.35.”
“Having broken through the bottom end of the trend channel at 1.5330, the next key level is the 2013 low of 1.4858.”
“Breaking this would keep the downward momentum towards the 2010 low of 1.4252. Our outlook remains bearish.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“GBPUSD entered the 5th downward trend from the peak of 1.7192 in July 2014, suggesting completion below the 3rd wave low at 1.35.”
“Having broken through the bottom end of the trend channel at 1.5330, the next key level is the 2013 low of 1.4858.”
“Breaking this would keep the downward momentum towards the 2010 low of 1.4252. Our outlook remains bearish.”
This content has been provided under specific arrangement with eFXnews.