FXstreet.com (Barcelona) - Sterling's recovery from 1.5825 day low has reached day high and 1.5990 and the pair, rejected by the mentioned level has retreated to 1.5900. Art the moment of writing the Pound trades at 1.5950.

On a wider perspective, Valeria Bednarik, collaborator at FXstreet, advices caution with downside corrections below 1.5960: Hourly indicators seem a bit exhausted at this point, while bigger tome frames remain slightly bullish. Downside movements should hold above 1.5960 area to see the pair extend current rally. Confirmations under that zone, will put the pair back under pressure.

Support levels, according to Bednarik, lie at 1.5950, 1.5910 and 1.5870. Resistance levels are 1.5985, 1.6010 and 1.6060.