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GBP/USD rejects 1.6100 again; back to 1.6050

FXStreet (San Francisco) - The GBP/USD got a new rejection from 1.6100 level and now the pair is testing 1.6050/60 area amid brief USD run.

Currently, GBP/USD is trading at 1.6065, down 0.19% 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 also is neutral.

GBP/USD sentiment

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

If the pair extends declines below 1.6050, supports are at 1.6040, 1.6000 and 1.5940. To the upside, resistances are at 1.6100, 1.6130 and 1.6160.

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