GBP/USD: 1.6637
Short-Term Trend: weak uptrend
Outlook: The GBP made a low at 1.6465 on Monday and rallied strongly toward the 1.6650 Fibo level at the end of last week. My long idea from a week ago was to turn long at 1.6450, but the market obviously did find support just above this level. Now, the pattern is bullish and further gains toward 1.7080 Fibo level are expected. I think it is too late to enter long now, but if you are already long, than that's just find. The key support now is the last week's low at 1.6465 (notice it is also a trendline support). Only a move below there will negate the current bullish view.
Strategy: Stand aside.