Pound Set for 1.4% Drop on Trendline Breach: Technical Analysis
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The pound may fall 1.4 percent versus the dollar after it traded below a so-called support level, Commerzbank AG said, citing trading patterns.
The U.K. currency breached $1.6027, the six-month trendline drawn from the Nov. 15 low at $1.5830, leaving it exposed to further selling, Karen Jones, the London-based head of foreign-exchange, fixed-income and commodities technical analysis, said in a telephone interview, citing third-party data.