The pair has probably confirmed the end of a 38% retracement of its recent rally which opens the door to the weekly upper bollinger band (1,6650).
The market is evolving in a weekly trading range with a bullish momentum. Considering the technical outlook, we hold a bullish bias on the Cable and expect a continuation of the uptrend.
Only a break below 1,62 would alleviate the upside pressure.
Provided by atf-forex-trading.com