Forex: GBP/USD bounces at 1.5900, back to test 1.5960
FXstreet.com (Barcelona) - After rejecting at 1.5960 resistance and falling around 60 pips in the last hour, GBP/USD has found support at 1.5200. Cable has bounced back to test 1.5960 level again and currently it is trading around 1.5950/60, 0.15% above today's opening price action.
Valeria Bednarik, FXstreet.com collaborator, comments: Fighting the 1.5920 support area, pair remains under selling pressure, supported by hourly indicators, yet pair needs to break clearly under 1.5870 support area to extend the downside; 20 SMA above current price, support the bias, as well as bigger time frames.
Bednarik provides us with her levels: Support levels: 1.5920 1.5870 1.5820. Resistance levels: 1.6000 1.6020 1.6060.