GBP/USD set to approach the 1.4238/45 February high – Commerzbank

Sterling is leading dollar weakness as GBP/USD is rising toward 1.42. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, targets the 1.4238/45 region.

Bullish above uptrend at 1.3800

“GBP/USD is holding above 1.4000 and attention is on 1.4238/45, the recent high and the March 2018 high.”

“It remains bullish while dips hold above the uptrend at 1.3800. We have an additional support line at 1.3861 and minor support at 1.4000/18.” 

“Our longer term target is 1.4377 the 2018 high.”