FXstreet.com (Barcelona) - The Pound 300 pips decline from 1-week high at 1.6120 reached October 8th, has found support at 1.5810 today's early Asian session with the pair attempting to recover some ground to hit intra-day high at 1.5880.
Currently, The pair is testing 1.5800 after rejecting at daily high, trading 0.25% below today's opening price action at 1.5850 to the actual 1.5815/25. GBP/USD is opening week lower in a quiet Monday market.
The ecPulse.com analysis team comments: Regarding the pound dollar pair, it gained slightly recording a high of 1.5881 and a low of 1.5809, having the royal currency trading around 1.5860. The pair is having a resistance at 1.5920 along with a support at 1.5815. If the pair broke the resistance it will target 1.5970 levels from where it may climb further to the 1.6050 levels. However, the pair is trading in an oversold area according to momentum indicators on the four hours scale.