GBP/USD has extended the rebound from 1.5645 following bullish resolution to the hourly trend channel. • The pullback from the 1.5929 swing high was always seen as a correction of the larger advance from the 1.5235 January swing low, with the rebound from 1.5645 suggesting that the correction is complete. • While 1.5645 holds the risk is seen to the upside for an attack on 1.5916/29 (200-day moving average/swing high) ahead of psychological 1.6000 then overhead resistance at 1.6096/1.6167 as the next leg higher unfolds. • Loss of 1.5645 in the meantime would again risk a test of 1.5500/1.5582 (psychological/50% ... (full story)