· Another new recovery high to end the week and month (and to start this week) to push above the 2013 high at 1.6382 for a new high for the year and to reinforce the prior break through 1.6255/60 Oct peaks.
· Given the better recovery tone from mid-Nov (which signalled the break below 1.5895 as a head fake Double Top), the threat is now for a significant bullish extension into Dec.
· The risk is now for 1.6500 and maybe a key 2011 peak at 1.6617.
· Overshoot threat is to the 2011 multi-year high at 1.6745.
· The 8-day RSI, is positive and just OB, but has scope to go still higher this week.
WHAT CHANGES THIS?
· Below 1.6200 eases bull risks; through 1.6065 signals a neutral tone.
Please see latest audio-visual analysis here: http:/members.marketchartist.com/Daily/GBPUSD.pdf