GBP/USD: The Rally Continues

The GBP/USD consolidation finally ended earlier today when the pair broke above the resistance at 1.5550 and then continued climbing higher. For now the rally continues. I expect the pair to continue to rise, at least until it reaches the resistance at 1.5760, visible on the weekly filter chart. Since that is a very serious level of resistance I will likely close my long positions once the pair finally reaches its target. That said, should GBP/USD manage to break above 1.5760, it will likely continue climbing until it reaches 1.5880.