The greenback went up from Monday´s minimum in the $1.6000 area to yesterday’s maximum of $1.6177.
Technical analysts at Commerzbank claim, however, that though the near-term outlook has become neutral, the 3-month downtrend is still in place.
As a result, the pair GBP/USD will face resistance at $1.6220 strengthened by the 55-day MA at $1.6213 that is pointing lower. The specialists expect sterling to fall to $1.5778.
Chart. Daily GBP/USD
published by FBS Holdings © 2011