With cable recovering higher and threatening the 1.3819/22 levels, further strength is envisaged. The pair needs to decisively break and hold above here to trigger further bullish offensive towards the 1.6877 level.
Further out, resistance resides at the 1.6900 level where a break will aim at the 16950 level and then its big psycho level at the 1.7000 level. Its daily RSI is bullish and pointing higher supporting this view.
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On the downside, support lies at the 1.6719 level where a breach will aim at the 1.6683 level with a cut through here allowing further downside towards the 1.6600 level.
Further down, support stands at the 1.6550 level and then the 1.6500 level. On the whole, GBP continues to retain its upside bias.
Guest post by FX Tech Strategy
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