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The GBP/USD pair is starting to erode the near-term downtrend at 1.3821, leaving the focus on the 1.3920 level, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports.  

Cable is holding over the nine-month uptrend

“GBP/USD stays bid while above the nine-month uptrend line at 1.3653 and has started to erode the 1.3821 resistance line to leave attention on the 1.3920 6th April high.”

“Key resistance is seen at 1.4018, the March high and this guards 1.4238/45, the recent high and the March 2018 high.”