FXstreet.com (Buenos Aires) - GBP/USD Current Price: 1.6491. Pound remains under pressure after breaking under key 1.6520 strong zone; hourly charts show 20 SMA crossing 200 EMA, and with a strong bearish slope, suggesting rises will remain limited in the pair. Indicators show no real upside strength here and losing upside momentum, so we could understand correction is complete and pair should attempt a break lower.
Bigger time frames remain bearish thus pair needs to confirm under 1.6440 area to accelerate the fall, fist to the 1.6400 zone, yesterday's low, followed by stronger 1.6370 level; if this last gives up, expect the pair to extend the downside rally in the mid term, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.6440 1.6400 1.6370. Resistance levels: 1.6520 1.6550 1.6600.