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GBP/USD focus returns to 1.5027/1.4981 – Commerzbank

FXStreet (Edinburgh) - The pair remains vulnerable and could re-visit recent lows around 1.5027 ahead of 1.4981, according to Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

GBP/USD came under increasing downside pressure yesterday and focus has shifted to the 1.5027 November low and the 1.4981 short term support line, we look for these to hold for now”.

“Failure here will target initially the 1.4860/78.6% retracement of the move up from April. This is regarded as the last defence for the 1.4577 April low”.

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