GBPUSD: Still Maintains Recovery Bias

GBPUSD: With a follow through higher on the back of its correction occurring on Thursday, there is risk of further upside. On the upside, resistance resides at the 1.5276 level followed by the 1.5329 level. Further out, the 1.5410/18 region comes in as the next upside objective. Its daily RSI is bullish and pointing higher supporting this view. On the downside, the risk is for a return to the 1.5007 level to occur thereby annulling its present recovery. Further down, support comes in at the 1.4950 level where a break will target the 1.4900 level and then the 1.4850 level. On the whole, GBP continues to retain its broader downside bias despite its recovery.