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The GBP/USD pair is downside corrective near-term. Commerzbank’s attention is on the nine-month uptrend at 1.3540 as a break below this level would pave the way towards the 200-day moving average at 1.3253.  

Key quotes

“GBP/USD is under pressure and our attention is on the nine-month uptrend at 1.3540.  

“It will now stay offered below the 55-day ma at 1.3809 and the short-term downtrend at 1.3930.”  

“Key resistance is seen at 1.4018, the current March high.”  

“Below the uptrend at 1.3540 would target 1.3483, the September 2018 high and the 1.3253 200-day ma.”