FXstreet.com (Buenos Aires) - GBP/USD Current Price: 1.6385. Still looking slightly bullish in the hourly, the upside remains capped by 20 SMA in 4 hours charts currently around 1.6400 with a clear bearish slope. Pair needs to break above yesterday's high around 1.6440 to gain some upside momentum, while 1.6520 seems to be a likely target if above mentioned resistance zone.

To the downside, pair has a strong congestion zone between 1.6280/1.6320 that must give up to see pair breaking lower, said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.6360 1.6315 1.6280. Resistance levels: 1.6425 1.6470 1.6520.