GBP/USD faces strong resistance at 1.5342 – Commerzbank

By FXStreet FXStreet (Edinburgh) – In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the upside in spot could struggle around 1.5342.

Key Quotes

“GBP/USD recovered yesterday but did not overcome any resistance of note”.

“The near term corrective rebound is about to reach the 200 day ma at 1.5342 but should then struggle”.

“We look for the correction higher to terminate around here and the market resume its down move. Resistance above here intensifies we have the 1.5404 resistance line then the 1.5515 October high”.
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Source:: FX Street