Flash: GBP/USD still has the June peak at 1.5752 in its sights - Commerzbank

FXstreet.com (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank notes that GBP/USD is still expected to hit the uptrend channel resistance line at 1.5739, a rise above which will put the June peak at 1.5752 on the map.

Key Quotes

“Just above it meanders the 200 week moving average at 1.5752 which is to act as resistance.”

“GBP/USD will remain overall bid while trading above last week’s 1.5424 low.”

“Minor support above this level is seen around the 1.5574 early August high and then around the 200 day moving average at 1.5520.”