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Forex pairs in this Article » GBP/USD (Barcelona) - Tim Riddell, Head of Global Markets Research, Asia at ANZ notes that the GBP/USD uptrend remains very much intact.

Key Quotes

“As noted, price action off 1.6605 has been very contained, forming an interim consolidation rather than signalling a top despite the roll in daily momentum.”

“Risks of a secondary bout of consolidation remain (given the break of rising support) but a push above 1.6550 would reduce that risk and suggest further measured moves to 1.6750-60, possibly even 1.7045.”

“A break of the 1.6225-60 zone would be needed to reduce the bias for extending recent gains.”
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