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GBP/USD recovery finds resistance below 1.6000

FXStreet (Córdoba) - GBP/USD rose further after Wall Street opening bell and reached 1.5993, the highest price since the beginning of the European session.

Cable trimmed losses versus the US dollar after dropping to 1.5867, fresh 2014 low and reversed sharply against the euro and Swiss franc, turning positive for the day. The pair was trading around 1.5960, after being unable to break 1.6000 but far from the lows.

GBP/USD technical levels

The area around 1.6000 has become an important short term resistance, above here the next could be located at 1.6020 (Nov 3, 5 highs) and 1.6055/60. Support might now lie at 1.5940 (American session low), 1.5900 and 1.5865/70 (daily low).

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