Currency strategists at Commerzbank claim that the pair GBP/USD hit the target of its decline in the 1.5719/03 area representing 55-day MA and 50% Fibonacci retracement.

In their view, pound’s likely to consolidate versus the greenback. Then sterling will face resistance at 1.5850/1.5915 and 1.6090/95 and the downtrend will resume, claims the bank.

The specialists expect the British currency to fall to 1.5500 and then to the 200-day MA at 1.5447.



Chart. H4 GBP/USD

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