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Forex pairs in this Article » GBP/USD (London) - While the dollar has been sold off this morning, GBP/USD still remains in negative territory and US data will be in focus this afternoon as a further test pre NFP's.

Karen Jones at Commerzbank said GBP/USD remains under pressure and on target for the support line at 1.5089, this connects the March low to the May low and may hold the initial test ahead of losses to the 1.5009 May low and then the 1.4832 March low. She said her team are exiting shorts at market as they are more than 3 big figures in profit and nervous that the support line will hold the initial test. They look for intraday rallies to remain capped by 1.5265/1.5340 for an immediate downside bias to be maintained. Key resistance remains the 1.5736/87 band – the recent high, the 61.8% retracement of this years move, plus the 200 week moving average.
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