GBPUSD: The pair closed strongly higher the past week and looks to extend that strength in the new week. On the downside, support lies at the 1.2700 level where a break will turn attention to the 1.2650 level. Further down, support lies at the 1.2600 level. Below here will set the stage for more weakness towards the 1.2550 level. Conversely, resistance stands at the 1.2800 levels with a turn above here allowing more strength to build up towards the 1.2850 level. Further out, resistance resides at the 1.2900 level followed by the 1.2950 level. On the whole, GBPUSD threatens further upside pressure but with caution.
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