THe GBP/USD has been bullish since finding support around 1.5329, but found resistance this week at 1.5675. This resistance was around a previous support area and is a key level to break for the bullish outlook. GBP/USD 4H Chart 7/17(click to enlarge) Since stalling at 1.5675, price action has been forming a double top with the base around 1.5550. A break below 1.5550 would complete the double top and break below a rising trendline, which would introduce a bearish outlook in the short-term. In the medium-term it would be signaling extension of the bearish correction since mid-June when GBP/USD marked a high on the year at 1.5930. If price does break below 1.5550, the 1.55 level could act like a last line of defense for the bullish continuation outlook. If price climbs back from 1.55 above 1.56, the breakout might not be valid, and the upside risk would return towards the 1.5930 high, given that cable eventually clears the current 1.5675 resistance.