FXstreet.com (Buenos Aires) - GBP/USD remains capped under 1.6200 level, holding the bearish bias in 4 hours and daily time frames. Key level to watch is the 1.6100/10 area, September lows, also 200 EMA in the daily chart. Daily close under that level, will likely confirm the head and shoulders figure clear in daily chart, and trigger more bearish momentum in the pair. Figure height is of around 900 pips. In the short term, supports lie at 1.6135 today's low, followed by the mentioned 1.6100 area, ahead of 1.6060 level. Resistances on the other hand lie at 1.6200, 1.6230 and then the 1.6280 zone.

GBP weakness has dragged EUR/GBP to a five-month high. Pair quotes at 0.9063, having reached extreme over bought conditions both in daily and 4 hours charts, yet with no signs of reversal. Supports for the next hours lie at 0.9040, and 0.9010, while above 0.9076, today's high, pair will find next resistance at the 0.9100 level.

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