Outlook for the pair remains higher as GBP put in another weekly higher close on Friday. This suggests that further higher prices are likely towards its big psycho level at 1.6000. While that level may present a strong resistance on an initial test, we expect it to eventually give in and open the door for further upside gains towards the 1.6274 level, its Jan 24'10 high and possibly higher. Its weekly RSI is bullish and pointing higher supporting this view. On pullbacks, the pair should target the 0.5814 level with a break targeting the 1.5521/1.5470 levels and then its violated trendline at 1.5226. This level is expected to hold and provide support thus turning the pair higher again. Overall, with bull pressure triggered from the 1.4226 level remaining intact, further upside offensive is likely towards the 1.6000 level and beyond.

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