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GBP/USD trading back in negative zone

FXStreet (Guatemala) - GBP/USD is trading at 1.5959, up 0.35% on the day, having posted a daily high at 1.6071 and low at 1.5877.

GBP/USD is back in negative territory after a brief encounter with the supply chain of sterling through and onto the 1.60 handle. The pair was airborne all the way up towards 1.6080 resistance making a high of 1.6070 but now resumes the downside. A number of poor US releases came about with retails sales coming in highly disappointing at -0.3% vs -0.1% expected. In any respect, still GBP/USD short‐term technical are bearish and signals give us direction with risk towards 1.5900 and there after followed November 2013 lows of 1.5855.

GBP/USD noteworthy levels

Current price is 1.5960, with resistance ahead at 1.5967 (Daily Classic PP), 1.6036 (Daily Classic R1), 1.6042 (Hourly 100 SMA) and 1.6055 (Hourly 200 SMA). Next support to the downside can be found at 1.5945 (Weekly Classic S1), 1.5934 (Hourly 20 EMA), 1.5900 and 1.5855.

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