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GBP/USD tests back 1.6100 after bouncing 1.6040

FXStreet (San Francisco) - The Sterling is testing back the 1.6100 level versus the US Dollar after completing a 60-pip climb from 1.6040 priced overnight. However, the pair is finding some buying interest around that level and now it is trading at 1.6080.

Currently, GBP/USD is trading at 1.6083, down 0.08% on the day, having posted a daily high at 1.6109 and low at 1.6041. GBP/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.

GBP/USD sentiment

"The GBP/USD holds steady below 1.6100, hovering around the 23.6% retracement of its latest bearish run, maintaining a quite neutral technical stance in the short term," comments Valeria Bednarik from FXStreet. "As yesterday, some steady gains above the 1.6110 price zone are required to confirm some further gains for today."

If the pair breaks above 1.6100, next resistances will be at 1.6120 nd 1.6160. On the downside, supports are at 1.6040, 1.6000 and 1.5940.

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