GBP/USD negative bias confirmed below 1.4285 – Commerzbank

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair needs to close below 1.4285 to confirm the negative bias.

Key Quotes

“GBP/USD has bounced from support but remains below initial resistance at 1.4665. We have a negative bias but will need to close below the 1.4285 uptrend to confirm. Overhead lies the 200 day ma at 1.4732 and the recent high at 1.4768. Dips lower should find support 1.4333/1.4285, where it is likely to attempt to stabilise – we are neutral”.

“Only on a close below the 1.4279 2 month uptrend would the chart picture deteriorate. Below the 2 month support line lies 1.4083/05 area where the January and April lows were made”.