The British Pound’s astounding losses have sent the GBP/USD to the 78.6 percent Fibonacci retracement of the 1.3700-2.1100 advance, and the pair’s sharp short-term recovery suggests further gains are in store. On a much shorter-term chart, we see that the GBP/USD has been thus far unwilling to break the top of its rising hourly trend channel at 1.5756, but a break higher would likely lead the pair to previous resistance of 1.5880. Watch for shorter-term GBP/USD buy/sell indications on our forex trading signals page.