GBP/USD eases after posting 2-day high - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that GBP/USD managed to climb to a 2-day high of 1.6116 in the European morning before dropping somewhat again.

Key quotes

"The technical picture shows price moving back below its 20 SMA with indicators still in negative territory, having erased all of their oversold conditions and approaching 1.6050 immediate support."

"A downward acceleration below it should see the pair approaching 1.6000, whilst below 1.5960 price zone comes next."

"The GBP/USD needs on the other hand to regain 1.6100 and consolidate above to support an upward extension up to 1.6140/60 price zone."