The comments from Pimco and other chatter about weak dollar policy for the US has the GBPUSD breaking to new highs again. The price is now back above the 1.600 level and recently hit a new high at 1.6046. The longer term target for the pair remains at at the 1.6155 area which is the HSI Target R5
Whatever, the reason, the GBPUSD remains supported. We should see a pullback to the 1.5960 and maybe deeper before continuation.
