FXstreet.com (Barcelona) - The Sterling has attempted to recover losses against the Greenback from 1.5940 in the early European session to break MA55 hourly chart at 1.5960 and hit 1.5995 as fresh intra-day high inside a bullish movement of 55 pips.

Currently the pair is trading around 1.5970/80, consolidating levels above the mentioned MA55 horuly chart level and reaching 0.10% losses so far today from opening price action at 1.5985.

Tomas Cedavicius, analyst at Investija.com, shares us with his scoop on Cable: GBPUSD Bears are going to test today support level, below this barrier, look for selling possibilities.

The AceTrader analyst team comments: Despite initial weakness to 1.5932 in Asian morning, as cable has rebounded fm there, suggesting choppy range trading abv last week's low at 1.5923 wud continue with mild upside bias but reckon res at 1.6023 wud hold n yield another fall later.

.