GBP/USD’s dumps towards 1.6147 accelerated uptrend – Commerzbank

FXstreet.com (London) - Karen Jones, chief analyst at Commerzbank explained that GBP/USD’s high of 1.6259 was yet to be confirmed by the daily RSI and the market had been appearing to be losing momentum ahead of the 2009-2013 downtrend at 1.6327.

Key Quotes:

“The focus shifts to the 1.6147 accelerated uptrend”.

“Below 1.6147 will target the 1.5815 3 month uptrend. The market will need to close below here to confirm that it has topped short term and trigger losses to 1.5430, then 1.5104”.