GBP/USD rallies face resistance at 1.4230/1.4330 – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, rallies in the pair are expected to struggle around 1.4230/1.4330.

Key Quotes

“GBP/USD has seen a small bounce, however rallies should struggle circa 1.4240/1.4330 and following the recent erosion of the 4 month uptrend should then come under pressure”.

“Initial support lies 1.4083/05 area where the January and April lows were made and these guard the 1.3837 February low. Please note we have a 13 count on the 240 minute chart and TD support circa 1.4045”.