GBP/USD Daily Outlook: GBP/USDs rebound from 1.5903 extended higher today and intraday bias remains on the upside. As noted before, current development suggests that consolidation from 1.6259 is completed already. Further rally would be seen through 1.6259 towards 1.6380 key resistance. Nonetheless, wed continue to expect strong resistance from 1.6380 to bring reversal eventually. Meanwhile, break of 1.5903 should now confirm topping and turn near term outlook bearish.
Posted on: Wed, 06 Nov 2013 07:58:41 +0000
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