FXstreet.com (Buenos Aires) - GBP/USD Current price: 1.5968. Pound has lost the 1.6000 area, and as expected retreat from 1.5920 support zone. Consolidating in the hourly chart, Gbp destiny will be on hold till next European session, and the release of last BOE Minutes.
Bearish in both 1 and 4 hours charts, expect the pair to extend the downside if Tuesday's low around 1.5920 gives up. To the upside, 20 SMA in the 4 hours charts, around 1.6100, should cap any major attempt of recovery, at least at a first approach, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.5920 1.5880 1.5820. Resistance levels: 1.6000 1.6060 1.6110.