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Forex pairs in this Article » EUR/USD, GBP/USD (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank notes that GBP/USD has seen an erosion of its near term resistance line and this suggests unfinished business on the upside.

Key Quotes

“Near term resistance is 1.6516 ahead of 1.6603 the January high. Directly above here lies the 1.6635 200 month ma and we suspect that the market will struggle to make much impression above 1.6600/35.”

“We have re-drawn the support line and will assume an upside bias above 1.6332.”
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