GBP/USD's rebound from 1.5271 short term bottom extended further to as high as 1.5817 last week and closed strongly. Initial bias remains on the upside this week and current rally should continue towards 61.8% retracement of 1.6618 to 1.5271 at 1.6103. On the downside, below 1.5666 minor support, though, will indicate that such rebound is likely finished and should flip bias back to the downside for retesting 1.5271 low first.
Courtesy-www.actionforex.com
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