FXstreet.com (Barcelona) - The Pound has weakened somewhat during the day and from Asian session high at 1.6370, the Pound has dipped to 1.6240 to bounce back, reaching levels above 1.6300 at the moment of writing.
On a wider perspective, Valeria Bednarik, collaborator at FXstreet.com sees the Pound consolidating with a slightly bearish perspective: "Pair remains consolidating with a slightly bearish perspective at this point. 20 SMA still flat above current level in the hourly, needs to turn to the downside to support indicators that turned down. 4 hours charts still show upside limited while 1.6200/10 is still the support zone to watch for a break lower."
Support levels, according to Bednarik, lie at 1.6260, 1.6230 and 1.6200. On the upside, resistance levels lie at 1.6350 1.6400 1.6470.
Forex: GBP/USD: Pound bounces at 1.6235 session low and returns above 1.6300
3:30 AM
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