GBP/USD: Targets the September low at 1.1958 – Commerzbank

GBP/USD’s descent is fast approaching the 1.1958 September low, as Commerzbank’s Karen Jones notes.

Key quotes

“A drop below 1.1958 would put the October 1984 and the May 1985 lows at 1.1870/55 on the cards.” 

“Further down sits the 1985 low at 1.0463.” 

“Minor resistance comes in at the 1.2194 October low and also at the 1.2413 early October high.”