GBP/USD analysis (July 26)

The GPB/USD has resumed its move to the upside overnight after a consolidation on Monday. A confirmation above 1,6350 will potentially expose 1,66 (weekly bollinger band).
Considering that the studies which are pointing to further gains, we encourage a bullish prospect on the Cable over the middle term.
Only a break back below 1,60 would concern.
Market participants will pay attention to the UK GDP release today (08:30 GMT) which has been lowered compared to last month (0,8% for 2011 vs 1,6%).