The GBPUSD continued its bullish momentum this week, as a part of the bullish phase since made a false breakdown below strong support 1.5330 earlier this month. From a weekly chart outlook as you can see on my weekly chart below, price has been moving inside a triangle formation suggests a consolidation phase. My intraday bias remains strongly to the upside, testing EMA 200 and the upper line of the triangle, a strong resistance area which located around 1.6450 and 1.6635. On the downside, last week’s high at 1.5972 could be an important support at this phase. A clear break and daily close back below that area could stop the current strong bullish intraday outlook.
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