GBPUSD: While a failed attempt on the upside saw GBP closing lower on Wednesday, its medium term upside risk remains higher. Though hesitating, it should eventually return above the 1.5990/98 levels. In such a case, further strength will develop towards the 1.6074 level, its Nov’2011 high with a breach of here turning focus to its Oct 31’2011 high at 1.6161