GBP/USD approaches strong resistance at 1.6260/12

While there were almost no reasons to believe that the British Pound would be able to outperform the U.S. Dollar, GBP/USD has just effortlessly rallied through several resistances and returned within the boundaries of the bullish channel. However, even though the weekly studies continue to point upwards, this bullish thrust may prove to be final.

After the yesterday's events the attitude to the Sterling worsened the most. The share of bullish positions in all of its crosses has dropped from 42%, which was the third highest value among the G10 currencies after the Aussie's 70+% and the U.S. Dollar's 60+%, down to 33%.