Daily Technical Strategist on GBPUSD
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GBPUSD: Faces Further Upside Risk
GBPUSD: GBP’s outlook continues to point higher with risk of more gains envisaged. On the upside, resistance resides at the 1.5650 level with a break aiming at the 1.5700 level. A violation of here will aim at the 1.5750 level and possibly higher towards the 1.5800 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 1.5450 level where a break if seen will aim at the 1.5400 level. A break of here will turn attention to the 1.5350 level. Further down, support lies at the 1.5300 level. On the whole, GBP continues to remain on the offensive in the short term.