Flash: RSI has not confirmed the recent high of GBP/USD – Commerzbank

FXstreet.com (Athens) – Karen Jones, Head Technical Analyst at Commerzbank suggests that the GBP/USD’s high of 1.6259 has yet to be confirmed by the daily RSI and the market appears to be losing momentum ahead of the 2009-2013 downtrend at 1.6327, where we would look for signs of failure

Key Quotes

“The focus shifts to the 1.6147 accelerated uptrend. Below 1.6147 will target the 1.5815 3 month uptrend.”

“The market will need to close below here to confirm that it has topped short term and trigger losses to 1.5430, then 1.5104.”