GBP/USD Analysis (August 16)

The pair continues to evolve in a long term trading range between 1,59 and 1,67 but it has confirmed a short term bullish bias after a break above 1,63 yesterday.
Next target is given by the daily bollinger band at 1,65. A break above this level would expose 1,67 (weekly bollinger band).
Only a break below 1,61 would alleviate the upside pressure.