GBP/USD could see a test of 1.4277 – Commerzbank

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, spot could see its downside renewed towards the 1.4280 area.

Key Quotes

“GBP/USD we look for the market to ease lower following its recent key day reversal to the downside on 3rd May”.

“It remains under pressure and we should see the market ease back towards 1.4277, the 55 day ma. Currently we do not see scope for a move beyond here”.