GBP/USD Mid-Day Outlook

Jul 21 2010

GBP/USD's recovery fails to extend and weakens again today. Bias is turned neutral for the moment. On the upside, note that decisive break of 1.5521 resistance will confirm that whole fall from 1.7043 has completed at 1.4230 already and target 61.8% retracement of 1.7043 to 1.4230 at 1.5968 next. However,