FXstreet.com (Barcelona) - The Sterling has found support at 1.6285 against the Greenback (coming from its 100 pips decline post NFP data from 1.6385) and has begun to recover previous losses to trade above 1.6300 again and test 1.6350. Currently the pair is trading around 1.6330/40, 0.15% below today's opening price action at 1.6329.
Valeria Bednarik, FXstreet.com collaborator, comments: Also under pressure, indicators have turned bearish both in 1 and 4 hours charts signaling further losses ahead; however, 1.6275 support must be clear in order the pair to gain downside momentum; 200 EMA at 1.6300 is offering some support to the pair, yet remains quite flat. A bit overextended to the downside, corrections should remain under 1.6340. If above, pair can regain some upside strength yet seen limited at this point.
Bednarik provide us with her levels: Support levels: 1.6275 1.6220 1.6160. Resistance levels: 1.6340 1.6375 1.6415.