GBP/USD outlook remains positive – Commerzbank

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s perspective points to further gains towards the 1.4660 area initially.

Key Quotes

“GBP/USD failed on Friday to overcome the 1.4665 February high and has sold off quite sharply yesterday, we currently view this as a correction ahead of another leg higher”.

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

“Resistance at 1.4665 guards 1.4786, the 200 day ma. The upside measured target from the triangle is 1.5085”.