Forex Flash: GBP/USD capped by 1.6260/1.6310 is sell signal - Commerzbank

FXstreet.com (Barcelona) - Commerzbank analysts believe that if GBPUSD rallies remain capped by 1.6260/1.6310, it would mean last week's strength was nothing more than corrective, leaving the market to ease back towards the 1.5912/00 zone (50% retracement of the move up from July and also the 23rd August high).

"Our negative bias will be maintained below 1.6310 - only above here would introduce scope for a move to extend to the 2009-2012 resistance line at 1.6495", wrote analyst Karen Jones, not favoring this scenario and pointing to initial resistance at 1.6228.