Flash: RSI has not confirmed the recent high of the GBP/USD – Commerzbank

FXstreet.com (Athens) – Karen Jones, Head Technical Analyst at Commerzbank suggests that the GBP/USD has eased lower, the markets recent high of 1.6259 has yet to be confirmed by the daily RSI and the market appears to be losing momentum ahead of the 2009-2013 downtrend at 1.6327,where is expected to cap the topside.

Key Quotes

“The market has started to erode its accelerated uptrend. The leads our focus to the 1.5831 3 month uptrend.”

“The market will need to close below here to confirm that it has topped short term and trigger
losses to 1.5430, then 1.5104.”