As is so often the case former tech levels work in the opposite fashion after being broken and the case is the same for cable today.
GBP/USD h4 chart 13 12 2013
The broken medium term resistance line held as support last week but not today and the 1.6260 level has stemmed the falls so far. The line comes across those Sep/Oct peaks.
Below we have the April 2011 line at 1.6172 withe the 200 h4ma at 1.6177. Just under that is the 55 dma at 1.6148
GBP/USD daily chart 13 12 2013
I should imagine those levels will be far too much today so for the rest of the day 1.63 is likely to see renewed resistance while a break of of that 1.6260 level may have us troubling 1.6200. As Thelma pointed out in the comments there are stops on a break here with strong bids at 1.6250 then more stops seen under bids at 1.6240.
