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GBPUSD: Reinforces Its Bullish Offensive

GBPUSD: GBP continues to face upside pressure following its corrective recovery bullish offensive. With the pair trading above its cluster of resistance at the 1.5689/77 zone, more strength is envisaged. Further out, resistance resides at the 1.5800 level followed by the 1.5800 level. A turn above here will open the door for a run at the 15850 level. Its weekly RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 1.5600 level where a break if seen will aim at the 1.5550 level. A break of here will turn attention to the 1.5500 level. Further down, support lies at the 1.5450 level. On the whole, GBP faces the risk of a recovery higher on correction.

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