GBP/USD Surges for 7 Days- Resistance in FocusBritish Pound / U.S. DollarFOREXCOM:GBPUSDFOREXcomSterling rebounded off confluent support last week at 1.3194. Note that the lower parallel converged on the 38.2% retracement of the 2025 advance and offered a launching point for the bulls to mark the largest single-week advance since June. The rebound has extended nearly 3.2% off the March low with the rally now approaching resistance objectives at the 61.8% retracement of the January decline at 1.3599 and the yearly high-week close (HWC) at 1.3685. Note that the median-line converges on this level over the next few weeks and a breach / weekly close above would be needed to mark uptrend resumption- look for a larger reaction there IF reached. Subsequent resistance eyed at the 2022 high at 1.3749 and the yearly high at 1.3870. Yearly open support now rests at 1.3474 and is backed closely by the 52-week moving average, currently near 1.3421. Losses below this level would threaten a retest of the uptrend. Initial support at the 61.8% retracement of the November rally at 1.3339 with 1.3194 still key. Bottom line: GBP/USD rebounded off uptrend support with a seven-day rally now approaching key resistance hurdles. From a trading standpoint, look to reduce portions of long-exposure / raise protective stops on a stretch towards 1.36- losses should be limited to the 52-week moving average IF price is heading higher on this stretch with a close above 1.3685 needed to fuel the next major leg of the advance. -MB