GBP/USD continues its recent descent towards the current April low at 1.2163, Axel Rudolph, a Senior FICC Technical Analyst at Commerzbank, reports.
A drop below 1.2163 is needed to alleviate upside pressure and refocus attention on 1.1491, 2016 low, and also the March low at 1.1409.
Minor resistance above the 1.2486 late March high can be seen along with the 55-day moving average at 1.2552.
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