The British Pound is attempting to renew its push higher against the US Dollar. A break above the 23.6% Fibonacci expansion at 1.6717 exposes the 1.6800-22 area, marked by
An upside breakout is unconfirmed for now absent a daily close above resistance and we will wait for that to materialize before looking for a long trade setup. Needless to say, pursing a short position that assumes resistance will necessarily hold is premature at this point. We will monitor price action from the sidelines for now.