FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the significance of the support at the psychological handle at 1.50 the figure. Key Quotes “GBP/USD sold off sharply last week almost hitting psychological support at 1.50000”. “This is a key break down point for the market and we would allow for it to hold the initial test and we would allow for a small rebound towards 1.5180 and 1.5260 ahead of another leg lower”. “Resistance above here intensifies and is likely to provoke failure”. For more information, read our latest forex news.