FXstreet.com (Córdoba) - The rise in stocks worldwide is not helping the Pound that is consolidating losses. GBP/USD recovery found resistance at 1.5940 and regained the downside. The pair trades around 1.5900, which is 0.15% below today's opening price. During the European session Cable tumbled to 1.5875, intra-day low. The next support lies at 1.5820. On the upside, above 1.5940, the pair could face resistance at 1.5965 and above at 1.6020.
According to Valeria Bednarik, collaborator at FXstreet.com: Pair holds the bearish tone despite risk appetite spreading across the board; 1.5870 supports keeps holding the downside, yet seems we are close to a break as indicators in bigger time frames point for further downside movements ahead. Expect the pair to gain downside momentum under mentioned level, while key midterm support lies at 1.5750 tough zone.