In the last month the GBP/USD has rallied well and surged higher to move back up strongly through numerous levels which has now been punctuated by a push through to its highest level for the year just above 1.6250. For most of last week it was placing reasonable pressure on the short term resistance level at 1.6250 and looked poised to break through, although to finish out last week it eased back and has now found support at the 1.60 level. A couple of weeks ago it found solid support from the 1.5950 level which helped it move well up to the 1.6250 level. It did stall around 1.59 to 1.5950 for a few days a few weeks ... (full story)