FXstreet.com (Buenos Aires) – GBP/USD Current Price: 1.6295. Turning bullish upside rally seem more limited in the pair, as the bearish trend remains intact; most likely, current movement seems to be corrective, ahead of further falls once the pair settles.
Limited by 1.6300, 20 SMA in 4 hours charts, pair needs to confirm above that level to extend closer to 1.6360 area. “Once under 1.6270, correction will be complete and pair ready to regain the downside,” said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.6270 1.6220 1.6160. Resistance levels: 1.6330 1.6360 1.6400.
