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GBPUSD: Builds Up On Strength

GBPUSD: With GBP maintaining above its broken resistance turned support at the 1.5166 level, it faces further bullish offensive. However, watch out for any pullback risk of its recent strength. On the downside, support lies at the 1.5200 level where a break if seen will aim at the 1.5150 level. A break of here will turn attention to the 1.5100 level. Further down, support lies at the 1.5050 level. On the upside, resistance resides at the 1.5350 level with a break aiming at the 1.5400 level. A violation will aim at the 1.5450 level and possibly higher towards the 1.5500 level. Its daily RSI is bullish and pointing higher supporting this view. On the whole, GBP remains biased to the upside on recovery
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