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”.


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Forex pairs in this Article » GBP/USD

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