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GBPUSD: Holds Below Key Resistance Zone At 1.5522/51 Zone

GBPUSD: With GBP rallying strongly to close higher the past week, more strength is envisaged. However, as long as it trades and holds below its resistance zone at the 1.5522/51, the risk remains lower on correction. On the downside, support lies at the 1.5400 level where a break if seen will aim at the 1.5350 level. A break of here will turn attention to the 1.5300 level. Further down, support lies at the 1.5250 level. On the upside, resistance resides at the 1.5522/51 levels with a break aiming at the 1.5300 level. A violation of here will aim at the 1.5350 level and possibly higher towards the 1.5400 level. On the whole, GBP continues to retain its downside pressure.

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