FXstreet.com (Córdoba) - The Pound is pulling back further from 1.6346, daily high, and is approaching to 1.6200. GBP/USD failed to hold above 1.6300 following BoE's decision and weakened further after U.S. data on jobless claims and trade balance. To the downside support levels lie at 1.6210/15 (intra-day low) and below at 1.6160/65 (December 09 low). Currently the pair is trading around 1.6223/28, 0.22% below today's opening price action at 1.6260.
Valeria Bednarik, Fxstreet.com collaborator, affirms: Pound continues moving against the crowd and is falling against greenback after BOEs' decision. Pair is testing the 20 SMA in the hourly chart, while indicators had lost strength and are turning to the downside. Pair should approach again to the 1.6250 key zone, neckline of the daily H&S formation. 4 hours indicators are also losing previous upside momentum support the view.