The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
NEW YORK ( fxtechstrategy.com) -- We continue to retain our upside bias on GBP-USD while it trades and holds above its trendline support at 1.5803. As long as this continues to hold, GBP is likely to return to its key resistance at 1.6059 level.
A break will resume its medium-term uptrend and then target the Nov. 11 high of 1.6091. A breach of here will turn focus to its Oct. 31 high at 1.6161.