FXStreet (Edinburgh) – Karen Jones, Head of FICC Technical Analysis at Commerzbank, has noted the pair faces an interim hurdle around the mid-1.5100s.
Key Quotes
“GBP/USD is very near term upside corrective following a failed attempt below 1.50”.
“The psychological support at 1.5000 and the 1.4965 short term support line represent the next key band of support, we look for these to hold for now”.
“Rallies should find initial resistance at 1.5152 (20 day ma) ahead of the 200 day ma at 1.5328 and while capped here will remain under pressure”.
(Market News Provided by FXstreet)