FXstreet.com (Buenos Aires)- Pound hedge up close to 1.5900, on U.K. Chancellor of the Exchequer Alistair Darling words. The policy maker is set to make a speech later today at the Labor Party Annual Conference, and market already had the highlights. However, Pound seems unable to extend the upside correction and retreats from 1.5900 zone to current levels around 1.5870.
GBP/USD remains under pressure, with 4 hours charts showing current corrective movement is already complete and pair setting for a new down leg. Under 1.5830 area, first support for next hour, pair could extend the downside rally to the 1.5760 today's low zone, ahead of 1.5710 area. Resistances above 1.5900/20 come at 1.5945, 1.5990 and the 1.6060 level, not seen at this point.