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GBPUSD: A second day of rally in the new week leaves GBP targeting further upside. Resistance resides at the 1.6300 level where a violation will pave the way for a run at the 1.6350 level.

Further out, resistance resides at the 1.6400 level. A cut through here will turn attention to the 1.6450 level and then the 1.6500 level.

Its daily RSI is bullish and pointing higher supporting this view.gbpusd

On the downside, support lies at the 1.6163 level where a breach will target the 1.6100 followed by the 1.6000 level and then the 1.5950 level where a violation will aim at the 1.5900 level. On the whole, GBP remains on offensive mood.

Guest post by FX Tech Strategy