FXstreet.com (Buenos Aires) - GBP/USD Current Price: 1.6250. Gbp continues losing ground, after starting the week under the 38.2% retracement of the last daily up leg from 1.5707 to 1.6693. Rally seems to be reaching oversold conditions in the hourly thus no signs of reversal yet.

200 EMA in the 4 hours charts around 1.6230 is next key support for the pair that should offer some rebound to the upside if reached without previous corrections. Only clearly above 1.6315, mentioned 38.2% level, pair could gain some upside momentum thus likely to be just corrective, said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.6230 1.6200 1.6160. Resistance levels: 1.6315 1.6350 1.6390.

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