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Forex pairs in this Article » GBP/USD (Athens) – Karen Jones Head Technical Analyst of Commerzbank, mentions that the GBP/USD intraday charts are suggesting one final thrust to 1.6255/90 ahead of failure.

Key Quotes

“This represents the October high – and this together with the 1.6302/69 2012 highs and 2009-13 resistance line should act in unison to offer some tough overhead resistance for the market. We find it somewhat surprising that the market remains at this elevated level, but are alert to failure at this critical zone.”

“Only a slide through last week’s 1.5896 low however will alleviate current upside pressure. Failure there will target the 38.2% Fibonacci retracement of the July-to-October advance at 1.5707 and possibly 1.5536, the 50% retracement.”
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