GBP/USD vulnerable below 1.4313/66 – Commerzbank

FXStreet (Edinburgh) - Axe Rudolph, Senior Technical Analyst at Commerzbank, argued the pair needs a close above the 1.4313/66 band in order to alleviate downside pressure.

Key Quotes

“GBP/USD reversed last week from 1.4083 and has now broken through the two month downtrend at 1.4313”.

“In order to alleviate downside pressure, a close above here and the recent high at 1.4366 will be needed. This looks increasingly likely”.