FXstreet.com (Córdoba) - The Pound is extending its recovery against the Dollar. GBP/USD found support at 1.6370 and after the opening bell at Wall Street rose back above 1.6400 and jumped to 1.6480. The pair trades at 1.6474/78, 0.36% below today's opening price. The Pound has risen more than 200 pips form 1.6268 (intra-day low). Above 1.6470/80, the next resistance zone lies at 1.6530 and above at 1.6550/60.
Valeria Bednarik, Fxstreet.com collaborator, affirms: Holding under 1.6460 past week low after breaking lower, hourly indicators had turned bullish after pair bottomed at 1.6268 low, yet the upside remains capped by 20 SMA in the hourly acting as dynamic resistance level. Bigger time frames also show some signs of exhaustion to the downside, but pair needs to regain at least mentioned 1.6460 area to extend upside correction.