GBP/USD continues its rise but resistance remains
Cable continues to clamber off the lows of last week, but as yet there is little sign that we have a reversal in place. For now resistance remains at $1.5243, and then at $1.5316. The daily RSI continues to bounce from oversold levels, and if today finishes higher the sequence of lower lows will have been broken, so watch for a turn higher in daily stochastics to confirm that a bounce is underway. A move lower is likely to find support at $1.5131 and then $1.5091.