GBPUSD bull pressures re-energizing
A resilient digestion through midweek after the rebound from 1.7085 to maintain upside pressures from the turn of month extension.
This activity leaves a bullish tone from the previous break above critical levels at the psychological/ option barrier at 1.7000 and the 2009 peak at 1.7044 for a bigger picture bull view.
We see risk late this week and through mid-July higher for a next Fibo extension level at 1.7255.
Overshoot threat is a long term retrace target at 1.7335.
WHAT CHANGES THIS?
Below 1.7000 eases bull risks; through 1.6952 signals a neutral tone, only shifting negative below 1.6920.
4 Hour GBPUSD Chart
Weekly GBPUSD Chart