FXstreet.com (Buenos Aires) - GBP/USD Current Price: 1.6224. Hovering around 1.6220 level, hourly charts show the pair already lost upside momentum after a very short correction from the 1.6135 low reached past Monday. 4 hours indicators signal further recoveries yet pair needs to confirm above 1.6240 to extend the upside rally, that anyway should remain capped around 1.6300, 38.2% Fibonacci retracement of the last down leg in daily charts, measured from 1.6567 to 1.6135.

Under 1.6190, 14.6% of the same rally, pair should resume downtrend and approach again to key 1.6100 zone, said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.6190 1.6135 1.6100. Resistance levels: 1.6240 1.6290 1.6330.

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