Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair still remains under pressure. Key Quotes “GBP/USD is under pressure. The market has remained capped by a short term downtrend at 1.4513 and following the erosion of its 20 day ma it is offered”. “We are viewing the recent high of 1.4665 as the end of the correction higher”. “The interim low at 1.4151 guards the January low at 1.4083. Below it lies the minor psychological 1.4000 region. The 1.3502 January 2009 low remains our primary target medium term”. For more information, read our latest forex news.