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GBP/USD rebounded strongly last week and the break of 1.6603 resistance mixed up the short term outlook. Consolidation from 1.6692 might have completed at 1.6261 already. Initial bias is mildly on the upside this week and further rise could be seen to 1.6692/6740 resistance zone. On the downside, below 1.6465 will flip intraday bias back to the downside first. Also, this will argue that price actions from 1.6250 are consolidation to fall from 1.6692 and has completed. Further break of 1.6261 will bring fall resumption to 1.5706 low.
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