GBP/USD has seen initial failure at the five-year resistance line at 1.3165. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects a correction lower in the short-term with initial support seen at the 1.2814 June high. Key quotes “GBP/USD is downside corrective following its initial failure at the 1.3165 2015-2020 downtrend. The 1.3201 March 2020 high reinforces resistance above here and we look for a correction lower near-term.” “Dips lower are expected to find initial support at the 1.2814 June high ahead of 200-day ma at 1.2704 and remain contained by the 1.2565 support line.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD at a tipping point, three things to watch on a busy day FX Street 2 years GBP/USD has seen initial failure at the five-year resistance line at 1.3165. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects a correction lower in the short-term with initial support seen at the 1.2814 June high. Key quotes “GBP/USD is downside corrective following its initial failure at the 1.3165 2015-2020 downtrend. The 1.3201 March 2020 high reinforces resistance above here and we look for a correction lower near-term.” “Dips lower are expected to find initial support at the 1.2814 June high ahead of 200-day ma at 1.2704 and remain contained by the 1.2565 support line.” Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
