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GBP/USD bears taking advantage

FXStreet (Barcelona) - GBP/USD is trading at 1.6116, down -0.29% on the day, having posted a daily high at 1.6186 and low at 1.6110.

GBP/USD is pressing on to the downside as the greenback continues on its advance soaking up the negativity that came through Europe and bolstered by decent housing and stronger stocks with a close on Wallstreet in the S&P strongest since October 2013. The short term charts are in a clear bearish phase until there could be some strong support coming in at 1.6080 that could get the pound back into a high gear for the upside in preparation for and until the FOMC plays out next week.

GBP/USD Noteworthy levels

With spot trading at 1.6116, we can see next resistance ahead at 1.6141 (Daily Classic PP), 1.6142 (Hourly 20 EMA), 1.6145 (Daily 20 SMA), 1.6163 (Weekly High) and 1.6163 (Daily Open). Support below can be found at 1.6110 (Daily Low), 1.6102 (Daily Classic S1), 1.6082 (Hourly 100 SMA), 1.6080 (Yesterday's Low) and 1.6064 (Hourly 200 SMA).

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