FXStreet reports that Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, discusses the prospects of the GBP/USD.

“GBP/USD is again backing away from tough resistance at the 1.3500/1.3540 recent high and December 2019 high. We are alert to a set back from here near-term.” 

“Nearby support is offered by the 55-day moving average at 1.3129 and also by 1.3050, the five-month uptrend.” 

“The 1.3515/40 December 2019 high is considered to be a major break up point to the 1.4377 2018 high longer-term. This is such major resistance we will need to see two daily closes or a weekly close above here to confirm a break higher.”