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GBP/USD technicals point to a bull run to 1.3390/1.3505 – Commerzbank

Cable’s rebound could extend to the 1.3390/1.3505 band, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

GBP/USD’s new low has not been confirmed by the daily RSI, and now we have eroded the accelerated downtrend – the argument for a near term correction higher grows. It is interesting to note that the Elliott wave count is pointing to a corrective rebound to the 1.3390/1.3505 area, which is extremely tepid. Below 1.3200 will trigger losses to the 1.3040 October low”.

“The March low lies at 1.3712 and this should offer a tough near term barrier. Rallies are expected to remain capped by the 1.3826 55 day moving average and while below here the market will remain directly offered”.

Turkey Foreign Arrivals dipped from previous 34.83% to 28.3% in April

Turkey Foreign Arrivals dipped from previous 34.83% to 28.3% in April
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UK plans to give Northern Ireland joint UK, EU status - The Sun

Reuters reports the latest story carried by The Sun, a British newspaper, citing that the UK seeks to break the deadlock in the Brexit negotiations by
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