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Forex pairs in this Article » GBP/USD (Barcelona) - With the markets attention turning to the BoE Minutes and UK Claimants data Analyst, Axel Rudolph at Commerzbank looks at the techincals.

Key Quotes:

"...while the 200 day moving average at 1.5526 caps, further weakness remains in store".

"... since last week’s rally looks directional we still have to allow for a stab to the 1.5605/58 resistance area unfolding".

"It consists of the May peak and uptrend channel resistance line".

"If overcome, a challenge of the 1.5752/55 June high and the 200-week moving average could still be seen. GBP/USD will remain overall bid while trading above the two month uptrend channel line at 1.5233".
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