FXStreet reports that Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the GBP/USD to fail in the 1.3310-1.3422 band.

“GBP/USD has maintained upside pressure following the break above the late January, February and March highs at 1.3201/10. However, we believe this is only an a-b-c pattern and we are at the top of a short-term channel and we have the 78.6% retracement at 1.3310. Directly above here lies key resistance offered by the 1.3422 multi-year downtrend and, if seen, we would expect this to again cap and provoke failure. This is reinforced by the 1.3515 December 2019 high.”