$GBP/USD surged yesterday, violating the 1.6260 ceiling and the - TopicsExpress

$GBP/USD surged yesterday, violating the 1.6260 ceiling and the 161.8% Fibonacci extension level of the 7th -12th Nov. downward wave. After the break, the pair moved lower to give another test to that area before continuing its advance. I expect the advance to continue, targeting the 1.6375 (R1) hurdle. The short term uptrend remains in force, since the rate is trading within the channel and the 50-period moving average remains above the 200-period moving average.

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