GBP/USD probing 200d ma

FXstreet.com (London) - On Thursday, GBP/USD climbed to touch the highest level since the beginning of the year, 1.5790, but this was short-lived and the pair lost traction below 1.5700 and the 200d ma on Friday. The US calendar was full last week, with a mixed bag of releases, that came without any surprises . This week we await the FOMC and BoE minutes.

GBP/USD topping out

Karen Jones, Senior analyst at Commerzbank has said that the GBP/USD still probes the 200 day moving average at 1.5698.

They note the 13 count on the daily and the TD perfected set up and they suspect that we are now trading towards the end of the corrective move higher. She explains that a break below the 1.5490 June 7 low is needed to alleviate immediate upside pressure and signal a slide back to the 55 day moving average at 1.5352 en route to the base of the channel at 1.5044