GBP/USD negative below 1.4389 – Commerzbank

FXStreet (Edinburgh) - The pair’s perspective remains bearish while below 1.4389, according to Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

“GBP/USD reversed last week from 1.4083 and has recovered towards the accelerated downtrend at 1.4389, in order to alleviate downside pressure, a close above here will be needed”.

“Above the accelerated downtrend, the first Fibonacci resistance lies at 1.4492 ahead of the 1.4568 April 2015 low”.