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Forex pairs in this Article » GBP/USD
FXstreet.com (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank notes that GBP/USD has eroded its near term trend line support at 1.6344, and downside risks are growing.

Key Quotes

“Key nearby support are the previous highs seen at 1.6255/59 and while above here we are unable to rule out scope for a move to 1.6634/1.6735. Currently intraday charts are giving conflicting signals but we continue to favour the downside.”

“Key near term support is the 1.6259/55 previous highs from October, as failure here will cast attention back to the 5 month uptrend at 1.6064. A close below here will re-target the 1.5855 November low.”
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