GBP/USD points to a visit of 1.4665 – Commerzbank

In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair remains poised for a re-test of highs in the 1.4660 area.

Key Quotes

“GBP/USD’s recovery yesterday has left the market well placed to challenge the 1.4665 February high”.

“We currently view near term weakness as a correction only ahead of another leg higher”.

“The outlook is positive following the retest and recovery off the triangle support”.

“Resistance at 1.4665 guards 1.4781, the 200 day ma. The upside measured target from the triangle is 1.5085”.