GBPUSD: GBP has turned higher leaving threats of more upside on the cards. However, it will have to retake the 1.6163 level to resume its medium term uptrend how on hold. Further out, resistance resides at the 1.6200 level. A cut through here will turn attention to the 1.6250 level and then the 1.6300 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 1.6000 level and then the 1.5950 level where a violation will aim at the 1.5900 level followed by the 1.5850 level. Further down, support lies at the 1.5800 level. On the whole, GBP remains on offensive mood.
