GBPUSD: The pair increased its bull pressure and broke its Sept 08’2011 high at 1.6079 level to close higher at 1.6126 the past week. A turn above here in the new week will call for a run at the 1.6204 level, its Sept 06’2011 and subsequently its Aug 30’2011 high at 1.5418. Its weekly RSI is bullish and pointing higher suggesting further strength. Alternatively, support lies at the 1.6069/39 levels where a reversal of roles as support is expected to occur and turn it higher. Further down, support comes in at the 1.5850/63 levels, its Sept 15’2011/Oct 14’2011 highs and next the 1.5713/1.5687 levels. Below here will ... (full story)