GBP/USD: The 1.2163 April low has been sold off – Commerzbank

GBP/USD has closed below the 1.2247 21st April low and yesterday sold off to the April low at 1.2163, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, informs.

Key quotes

“A drop below the April low at 1.2163 will refocus attention on 1.1491, the 2016 low, and also the March low at 1.1409. Fibonacci support is found on route lies at 1.2030/1.1883/1.1675.”

“Near-term rallies will find initial resistance at 1.2468 8 th May high ahead of the 200 day ma at 1.2656.”