According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair remains vulnerable below the 1.4528 level. Key Quotes “GBP/USD remains capped by a short term downtrend at 1.4528 and has at last eroded its 20 day ma to leave it back under pressure”. “We are viewing last weeks 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.