GBP USD moved towards the 1.6700
resistance zone forming higher lows and higher highs clearly marking
the trend, now the pair has reached the 61.8 Fibonacci Retracement of
the 1.7520-1.5260 down move; at current levels we expect to see some
resistance and perhaps if developing price action on the smaller time frames helps we'll see some bearish positions starting to form.
Although the bullish bias is still intact a small retracement to test
the support trend line is not out of the question.
