FXstreet.com (Buenos Aires) – GBP/USD Current price: 1.6180. Pound continues under pressure after testing and retreating from 1.6250 resistance area. However, Thursday downside rally was halted exactly at the 20 SMA in the daily chart, at 1.6125; pair could only accelerate further down under that support zone. <br /><br />“Hourly charts show some upside momentum still price is moving under 20 SMA strongly bearish, that’s capping the upside,” said <a href=”http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-01-21.v03.html”>Valeria Bednarik, collaborator at FXstreet.com</a>. 4 hours charts also favor the downside for next hours, as indicators are turning bearish again.<br /><br />Support levels: 1.6160 1.6120 1.6060. Resistance levels: 1.6200 1.6250 1.6290.<br />For more information, read our latest <a href=”http://www.fxstreet.com/news/forex-news/”>forex news</a>.
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