On the downside, support levels lie at 1.5925 (intra-day low/Sept 25 low), and below there 1.5880 and 1.5800 (Jun 8 low). Resistance levels lie at 1.6010/20 , 1.6200 and 1.6350.
The ecPulse.com analysis team comments: The GBP/USD is being traded at 1.5998, between the support of 1.5955 and a resistance of 1.6024, while recording a high of 1.6010 and a low of 1.5923. The volumes indicator on the four-hour chart is showing us that there is high volume in markets.
On the other hand, The Swiss e Trade Strategy Team affirms that sell of of EUR/GBP has supported Sterling: Cable is currently trading at 1.6002, near the 1.6015 resistance level, as a sell-off of EUR / GBP helped support Sterling. If the 1.6015 resistance is broken, we expect a rally to 1.6125 will be possible. If resistance holds, then disappointed traders will take this pair back down to 1.5900 and perhaps to 1.5850.