GBP/USD gains struggle around 1.5263 – Commerzbank

By FXStreet FXStreet (Edinburgh) – Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the pair’s corrective upside to struggle around 1.5263.

Key Quotes

“GBP/USD‘s near term corrective rebound has been rejected by cloud resistance at 1.5263 (this is on the 240 minute chart)”.

“We look for the correction higher to terminate around here and the market resume its down move. Resistance above here intensifies and is likely to provoke failure, the 200 day ma lies at 1.5343 and is expected to cap”.
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Source:: FX Street