FXstreet.com (Buenos Aires) - GBP/USD reached in 4 hours charts, the 61.8% correction of the 1.6567/1.6135 rally at 1.6400 area and retreat now close to the 50% of the mentioned rally at 1.6350. Current candle close under that level, will suggest upside movement was mostly corrective, and pair would likely resume downtrend under next support zone at 1.6310.
4 hours indicators are also giving signs of exhaustion to the upside, while 20 SMA in the daily also halted the upside rally, as it lies at the 1.6400 zone. Hourly indicators had lost momentum and are turning also down, supporting some bearish perspective ahead. Only a daily close above 1.6400 could change the bias.