GBP / USD will keep cautious in the short term
According to the forecasts of the main Commerzbank technical analyst Karen Jones, GBP / USD will keep a cautious attitude in the short term.
"At the pound reached a 55-week MA at 1.2966 which now consolidates last week. I would like to mention a complex divergence on the daily RSI, however, to weaken the bull pressure is required breakdown of 1.2760 the pair (at least 21 of April). In the medium term, our outlook remains bullish as long as the pair is trading above the 200-day MA at 1.2603. Near 1.3000 the pair is likely to fizzle, at least temporarily.
Break of 1.2603 could cause a decline to 1.2515 (April 18th low) and 1.2347 (low of February). "
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