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) - The pound vs. dollar are showing a hammer-generated recovery off the 1.5326 level triggering a fresh upside gains in early trading today. Hope of further gains is developing. This would put the GPB-USD pair on the path of further recovery toward the Sept. 30 high of 1.5661. A breach there will turn risk toward the 1.5713 to 1.5779 levels. However, we expect these levels to cap gains and then turn the pair back lower in the direction of its medium-term downtrend.