FXstreet.com (Barcelona) - The Pound attempted to recover from session low at 1.5990, but it has been unable to return above 1.6055 (Jan 4 low), and the pair has returned to levels right above 1.6000.

According to Valeria Bednarik, technical analyst at FXstreet.com, downside pressure is still weighing on the Sterling: Pound remains under pressure despite current upside corrective movement, and lower targets are seen later as long as the pair remains under 1.6060 resistance area.

In case of breaking below 1.6010, Bednarik observes 1.5980 and 1.5930/40 as next target levels: Quoting now around 1.6030, break under 1.6010 likely to send the pair to test today's low around 1.5980, yet under this last, the 1.5930/40 area seems a probable target zone to the downside today.

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