FXStreet (Edinburgh) - The recent price action suggests the pair might visit the 1.6694/80 band, according to Karen Jones, Head of FICC Technical Analysis at Commerzbank.



Key Quotes



GBP/USD has closed below its 2014 uptrend – this is negative price action and introduces scope to 1.6694/80 then 1.6280/53 the 38.2% retracement of the move from 2013 to 2014 and the 2014 low”.



“Longer term we view the recent peak at 1.7195 as a significant top and eventually look for losses back to 1.60”.



“Intraday rallies should terminate circa 1.6935/65 and remain capped by the 20 day ma at 1.7048”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    GBP/USD recovers losses ahead of European session

  2. Forex News

    GBP/USD Technical Analysis: Support Below 1.55 in Focus

  3. Forex News

    Video: AUDUSD, GBPUSD and USDJPY Better Trade Options Than EURUSD

  4. Forex News

    BoE Policy Meeting Preview - Rabobank

  5. Forex News

    GBP/USD sinks to 1.5570

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!