GBPUSD - With GBP following through on the back of its recovery during early trading today, it faces risk of continuation of that strength. Resistance resides at the 1.6350 level with a break aiming at the 1.6400 level. A violation will aim at the 1.6450 level and possibly higher towards the 1.6500 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 1.6250 level where a break will aim at the 1.6200 levels. A break of here will turn attention to the 1.6150 level. Further down, support lies at the 1.6100 level. On the whole, GBP continues to retain its upside bias short term on correction.
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