GBP/USD has the 1.3920 mark in its crosshairs – Commerzbank

The GBP/USD pair is starting to erode the near-term downtrend at 1.3821, leaving the focus on the 1.3920 level, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports. 

Cable is holding over the nine-month uptrend

“GBP/USD stays bid while above the nine-month uptrend line at 1.3653 and has started to erode the 1.3821 resistance line to leave attention on the 1.3920 6th April high.”

“Key resistance is seen at 1.4018, the March high and this guards 1.4238/45, the recent high and the March 2018 high.”