FXstreet.com (Buenos Aires) - GBP/USD Current Price: 1.6457. Pound recovery seems ready to extend above current 1.6460 resistance/support area, as hourly charts show strong upside momentum in the pair, while price actions developing above 20 SMA that lost the bearish slope and is turning flat.
Supported also by 4 hours indicators that seem to have bottomed, pair needs to confirm above 1.6480 to extend the upside rally. Only under 1.6420 support zone, intraday bias can change and turn the pair bearish, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.6420 1.6380 1.6330. Resistance levels: 1.6480 1.6520 1.6560.