GBPUSD's bounce from 1.5977 extended to as high as 1.6253 level. Further rise is still possible later today, and next target would be at 1.6300 area. Key resistance is at 1.6343, above this level will indicate that the longer term uptrend from 1.5344 (Dec 28, 2010 low) has resumed, then next target would be at 1.6500 zone.

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