FXstreet.com (Buenos Aires) - GBP/USD Current Price: 1.6815. Still struggling with 20 SMA in the hourly chart, indicators lost momentum while 20 SMA has turned flat in the hourly; however bigger time frames show pair in a consolidation stage still bullish, suggesting more upside pressure for next hours, as long as 1.6740 strong static area holds the downside.

Pair needs to break and accelerate under that zone to extend a downside rally, while confirmations above 1.6840 will likely send the pair back to the 1.6880/1.6900 area, said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.6770 1.6740 1.6685. Resistance levels: 1.6840 1.6880 1.6920.

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