FXstreet.com (Buenos Aires) - GBP/USD Current price: 1.6219. Opening to the downside with a small gap, pair keeps holding a bearish tone coming from hourly indicators, as also weekly opening took place under the neck of the H&S formation clear in daily charts, around 1.6250. Pullbacks to that are likely, as the pair will attempt to fill the gap, yet if price retreats strongly from that area, further falls are seen ahead.

4 hours indicators are also bearish supporting the view. Only above 1.6360, not seen at this point, pair can regain some upside strength, said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.6200 1.6160 1.6120. Resistance levels: 1.6250 1.6310 1.6360.

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