FXstreet.com (Buenos Aires) - Despite risk aversion rally, GBP/USD remains the strongest currency across the board holding comfortable above 1.6500/1.6520 area. Still in an upside trend, pair has remained bullish since past Mach; consolidating in a 600 pips range since early June, false break that send the pair above 1.7000, offered a strong and quick retracement that lead the pair back into range.
To the upside, pair needs to regain 1.6660 level, and above, yearly high of 1.7030 to extend the long term trend. To the downside, ascendant trend line around 1.6440 will be fist key support to consider, ahead of base of mentioned range, around 1.6200, and then 1.6000. If this last gives up, long term bias will change, with next support at 1.5750.