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GBP/USD heading towards 1.5590 - FXStreet

FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet sees GBP/USD's ruling trend remaining firm.

Key Quotes

"The pair’s ruling trend remains firm in place, with the 4 hours chart showing price retraced from a clearly bearish 20 SMA offering dynamic resistance around the mentioned daily high, while indicators turned strongly south in negative territory, after correcting oversold readings: 1.5589, this year low comes as immediate support with some consolidation around it expected if reached within the next couple hours."

"But a break below it should see a downward extension towards 1.5550 price zone, in route to the 1.5500 figure."

"Short term, the first resistance stands at 1.5660, with a recovery above it probably signaling a retest of the 1.5700 level."

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