The GBPUSD moved to new recent week highs at the 1.6477 level. This took out the high reached yesterday at the 1.6466 level and moved above the 61.8% retracement level of the move down from the June high of 1.6743. The price, however, has since retreated back below the 1.6453 level and this level will now be eyed as upside resistance once again. If we can get a break of the trendline around 1.6377 look for a staggered move to 1.6233 ( S4). If not, maybe a triple top. We’ll see.
