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Forex pairs in this Article » GBP/USD (Barcelona) - Nomura Strategist Saeed Amen has taken a look at GBPUSD from a purely technical perspective.

Looking at a daily chart he notes that spot is down on the week, but he is maintaining his bullish view. He sees that RSI has reached relatively low levels where historically spot has seen short term lows. He comments that bandwidth is also relatively flat, which is indicative of more range bound price action. Hence, he adds, "a small retracement higher could be likely. Our target is relatively close at 1.5650, and we wouldn't anticipate a rally extended beyond that."
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