FXstreet.com (Buenos Aires) – GBP/USD Current Price: 1.6315. Already under yesterday’s low, bearish pressure remains intact in the pair, supported not only by indicators and strongly bearish 20 SMA in the hourly, but also by general sentiment against pound.
“First strong support comes at 1.6270 past week low, where we can also find a short term daily ascendant trend line; once the pair clears that support, next target will be close to 1.6200 base of these last 3 months range, ” said Valeria Bednarik, collaborator at FXstreet.com. Not seen at this point, pair needs to regain the 1.6520 level to change bias and turn bullish.
Support levels: 1.6275 1.6220 1.6160. Resistance levels: 1.6350 1.6400 1.6440.
