GBPUSD: With GBP closing sharply higher off its support at the 1.6920 level on Wednesday and following through higher on Thursday above the 1.7000 level, it looks to retarget the 1.7050 level.
Further out, resistance resides at the 1.7100 levels where a breather could occur but if broken the 1.7150 level will be targeted. A break will open the door for a run at the 1.7200 level and then the 1.7250 level.
Its daily RSI is bullish and pointing higher supporting this view. On the downside, support comes in at the 1.7000 level followed by the 1.6950 level where a break will aim at the 1.6881 level.
A violation w ill aim at the 1.6800 level. Below here if seen will set the stage for a run at the 1.6750 level where a violation will aim at the 1.6698 level with a break aiming at the 1.6658 level. On the whole, GBP continues to retain its upside bias.
Guest post by FX Tech Strategy
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