FXstreet.com (Buenos Aires) - GBP/USD Current price: 1.6077. Pound regained the upside today, adding almost 2.5 cents from the daily low, and halting barely under the daily descendant trend line coming from 1.6720, this month high, now around 1.6100, and first resistance level for next hours.
Confirmations above that zone should send GBP/USD higher, with next level to watch at 1.6160 area. Hourly charts show indicators already corrected overbought conditions, and upside momentum remains strong, supporting the bias. Under 1.6060, expect downside corrective movement to approach 1.6000 area, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.6060 1.6000 1.5965. Resistance levels: 1.6100 1.6135 1.6160.