GBPUSD: The pair continues to retain its upside pressure following its strong rally on Thursday. On the downside, support lies at the 1.2400 level where a break will turn attention to the 1.2350 level. Further down, support lies at the 1.2300 level. Below here will set the stage for more weakness towards the 1.2250 level. Conversely, resistance stands at the 1.2500 levels with a turn above here allowing more strength to build up towards the 1.2550 level. Further out, resistance resides at the 1.2600 level followed by the 1.2650 level. Its daily RSI is bullish and pointing higher supporting this view. On the whole, GBPUSD threatens further recovery higher.
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