GBP/USD: bulls up against it again, but strong rebounds on the cards?

GBP/USD has been recovering from 1.4350 lows of late, but has run into supply again towards the end of this week, pressured by the polls despite the dollar facing the doubts surrounding the Fed. Today, however, the dollar has been bouncing back and saving face vs the headwinds of a Fed on hold for the time being and has been better bid on better looking data.

GBP/USD bearish tone prevails - Scotiabank

No Brexit, GBP/USD to rebound strongly - BTMU

GBP/USD levels

Analysts at Commerzbank explained that they have a negative bias, but will need to close below the 1.4291 uptrend to confirm, "Overhead lies the 200 day ma at 1.4727 and the recent high at 1.4768. Dips lower should find support 1.4333/1.4291, where it is likely to attempt to stabilise – we are neutral. Only on a close below the 1.4291 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. Nearby resistance lies at 1.4515 (March high) ahead of 1.4665 (February high), intraday rallies are indicated to halt ahead of the first level."