FXstreet.com (Buenos Aires) - GBP/USD Current Price: 1.5965. Mostly consolidating, hourly charts show upside rally seem to have founded a top around 1.5990, past Tuesday's high. 4 hours indicators are still bullish yet also losing momentum. Pair needs to clear 1.6010 to gain more bullish strength during next hours, with immediate resistance around 1.6060, followed by 1.6110, where the pair could complete a pullback to the daily head and shoulders figure broken past week.
That level should offer some strong downside rebound to keep the bearish trend healthy, as consolidation around that level, will made trend tumble. Clearly under 1.5870, pair should resume downtrend, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.5950 1.5910 1.5870. Resistance levels: 1.5990 1.6010 1.6060.