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GBP/USD trading close to 1.6139 levels - FXStreet

FXStreet (Łódź) - FXStreet Editor and Analyst Omkar Godbole observes that GBP/USD is hovering near the 1.6139 region on Wednesday, with the daily RSI bearish at 48.98.

Key quotes

"On the hourly charts, the RSI is flat around 54.00 levels with the prices struggling to rise above 1.6140 levels."

"Meanwhile, the pair has found a floor at 1.6127 levels today."

"Moreover, the hourly chart shows prices have failed for the fourth time yesterday to rise above 1.6180 levels since the last week."

"Hence, the pair is more likely to dip to 1.61 levels, dragging the hourly RSI below 50.00 levels."

"However, the bears may come-in strong only below 1.61 levels. On the other hand, the GBP bulls are likely to wait for a closing above 1.6180 levels."

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