FXStreet reports that Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects cable to challenge the 1.3984/1.4018 medium-term pivot.

“GBP/USD is holding near-term below one-month highs at 1.3893.”

“Short-term, the pair is underpinned by 1.3734/26, and we would allow for recovery and a further upside attempt to the more important 1.3984/1.4018 medium term pivot, where we suspect that the market will fail.”