GBPUSD: Follows Through Higher On Further Strength

GBPUSD: With the pair following through higher on the back of past week rally, further upside is expected in the days ahead. Having climbed and held above the 1.6172/77 levels, its key resistance standing at the 1.6271 level is now beckoning. Further out, resistance stands at the 1.6350 level with a violation of here calling for a run at the 1.6400 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support comes in at the 1.6172/77 levels where a reversal of roles could occur and turn GBP back up. However, if this fails further decline will shape up towards the 1.6100 level where a violation will call for a run at the 1.6000 level and then 1.5900 level followed by the 1.5827 level. On the whole, GBP continues to hold on to its bullish bias with eyes on further upside.