FXstreet.com (Buenos Aires) - GBP/USD Current price: 1.5938. Despite starting the session around 1.5985, Pound is quickly falling, approaching to key 1.5920 support zone. Under flat 20 SMA, hourly indicators are slightly bullish suggesting a short upside corrective movement could take place before a new leg down.
Under past week low, mentioned 1.5920 area, pair could extend the fall with immediate support at 1.5860, thus a midterm target around 1.5700, past 7 months low, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.5920 1.5880 1.5820. Resistance levels: 1.5985 1.6010 1.6060.