GBPUSD (1.4257): The British pound maintained gains from earlier this week, withGBPUSD trading above the previous highs formed at 1.4232. The retest of this level suggests a short-term consolidation at this level. If this level holds, GBPUSD could be seen posting further gains. Alternately, a breakdown below 1.4232 could signal a sharper correction back toward the 1.4162 level where support could once again be tested. The overall bias in GBPUSD remains to the upside for the moment with the bounce of the support level likely to see price push higher in the short term.
