GBP/USD upside limited around 1.4255/1.4350 – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees bullish attempts in the pair could struggle in the 1.4255/1.4310 band.

Key Quotes

“GBP/USD remains under pressure. Rallies should struggle circa 1.4255/1.4350 and following the recent erosion of the 4 month uptrend should then come under pressure”.

“Initial support lies 1.4083/05 area where the January and April lows were made and these guard the 1.3837 February low. Please note we have a 13 count on the 240 minute chart and TD support circa 1.4045”.