GBP/USD Upside Risk Through 1.6877
Steve Miley | Apr 23, 2014 04:10AM ET
GBP/USD bullish tone and extension bias
A push to a new recovery high last week and a subsequent resilient tone leaves the threat still higher into this week.
We still target another new cycle high this week and aim for a longer term level at 1.6877.
The risk for late April is now still higher to psychological 1.7000 and the multi-year high from 2009 at 1.7042.h2 WHAT CHANGES THIS?/h2
Below 1.6625 eases bull risks; through 1.6550 signals a neutral tone, only shifting negative below 1.6465.
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