GBP/USD bearish below 1.6830/41 – Commerzbank

By FXstreet.com | June 05, 2014 AAA

FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggests the pair’s stance would remain negative below the 1.6830/41 band.



Key Quotes



GBP/USD is higher, it has retested the previous uptrend and we look for this at 1.6830 and the downtrend at 1841 to hold. While it does so our negative bias is entrenched”.



“Slightly longer term, we continue to believe that the market has topped at 1.70”.



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