FXstreet.com (Buenos Aires) - GBP/USD Current Price: 1.5998. Back under 1.6000 after retreating from key 1.6110 level reached past European session, pair is moving in a tight range just under flat 20 SMA in the hourly, with indicators not clearly pointing down.

Bigger time frames also show the pair in a consolidation stage, with key 1.5920, also 20 SMA in 4 hours charts as key support; under that level, pair should resume bearish trend, while above 1.6110, not seen at this point, further falls will be limited, said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.5985 1.5920 1.5870. Resistance levels: 1.6020 1.6060 1.6110.