FXstreet.com (Buenos Aires) - GBP/USD Current Price: 1.6268. Slightly bearish yet also in a tight range, Pound has been losing ground since BOE published the unchanged monetary policy decisions. Hovering around flat 20 SMA, hourly indicators had turned to the downside, while 4 hours ones are losing previous upside momentum, after the strong rebound in the 20 SMA still bearish.
Pair remains close to the H&S neckline, around 1.6250, thus despite several attempts, pair fail to confirm a break lower. We need to see a strong downside rally to see pair accelerating, better if reaching levels under 1.6200 support, as should confirm the bias, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.6250 1.6200 1.6160. Resistance levels: 1.6330 1.6380 1.6420.