FXstreet.com (Buenos Aires) - GBP/USD Current Price: 1.6383. Pair retreat from the 1.6400 area, 61.8% retracement of the Fibonacci rally 1.6567/1.6135, yet holds the bullish tone for next hours. With hourly momentum showing some bearish divergences, pair needs to at least open a candle under 1.6350 to see some downside movements, while above 1.6400 level, pair could gain upside momentum and extend the rise.

4 hours charts had turned slightly bullish after past Tuesday rally, supporting the bias, said Valeria Bednarik, collaborator at FXstreet.com. Pair likely to wait for BOE's minutes to trigger any break rally.

Support levels: 1.6350 1.6320 1.6270. Resistance levels: 1.6400 1.6440 1.6520.