GBPUSD: Key Resistance Zone Targeted


GBPUSD: Key Resistance Zone Targeted.

GBPUSD - We expect further upside offensive as GBP looks to retarget the 1.6168/72 levels. A breach of here will turn attention to the 1.6215 level with a cut through here ending its broader bearish threats and opening up further offensive towards the 1.6350 level. Further out, resistance resides at the 1.6400 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 1.6055 level where a break will turn focus on the 1.5900 level followed by the 1.5827 level. Further down, the 1.5774/78 levels come in as the next downside. On the whole, GBP continues to hold on to its upside bullish offensive.

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