FXstreet.com (Buenos Aires) - GBP/USD has resume downtrend since early Asia opening, reaching an intraday low of 1.5915, before retreating to consolidate at the 1.6000 area. On weekly charts, pair is under the 38.2% retracement of the weekly Fibonacci rally 2.015/1.3502, suggesting a weekly close under that level, will resume midterm downtrend. Currently around 1.6040 and turning to 4 hours charts, pair has attempted to overcome the level and failed several times since European opening.
Holding above 1.6000, immediate support comes at 1.5970 area, followed by 1.5915, past Asian session low. Under that level, next important support to consider comes at 1.5860 area. To the upside, if the pair manages to overcome that 1.6040 level, resistances lie at 1.6060, and 1.6110 strong zone.