GBP/USD can't recover and stuck at 1.5700/800 on the way up!
USD strenght over the past few months broke several important support levels here and for the past 5 weeks the pound can’t recover more then 1.5700/800. You can see at this weekly chart why. USD return more then 61.8% loss of the July 2013.—> July 2014. pound rally and that level has become a strong weekly resistance point for the pound. This is fifth week in a row where pound try to get back over that level, but as we can see, in the previous weeks every attempt was rejected. If the pound finaly manage to do that, there is a strong resistance at 1.5900 on the way up as well. It looks like, that resistnace could be stronger then this one at 1.5700/800. What do you think?