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GBP/USD loses gains after making a high of 1.5825 – FXStreet

FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that the GBP/USD pair spiked up to 1.5825 fresh 11-day high early European opening, but failed to sustain its gains, extending now below critical 1.5770 static support zone.

Key Quotes

“Technically speaking, the pair is completing a pullback to the top of the range broken yesterday around 1.5740, level that stands as immediate short term support: break below it should lead to a continued slide towards the 1.5690 price zone.”

“A recovery above 1.5770 and some steady consolidation above the level on the other hand, should deny chances of an intraday decline and favor a retest of the 1.5800/20 price zone.”

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