GBP/USD potential test of 1.5658/90? – Commerzbank

By FXStreet FXStreet (Edinburgh) – In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could still stab the 1.5658/90 band.

Key Quotes

“GBP/USD held sideways on Friday and it is difficult to determine whether this thrust higher is over on not. However currently we do suspect that the market will begin to struggle”.

“At this stage we are unable to rule out an extension to the top of the range circa 1.5658/90”.

“We note the 13 count on the 240 minute chart today and TD resistance at 1.5540”.

“A move below 1.5280 should alleviate immediate upside pressure but we will need a move sub 1.5200 to retarget the 1.5108 low”.
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Source:: FX Street