Forex: GBP/USD aiming for a correction

FXstreet.com (Buenos Aires) – GBP/USD Current price: 1.5412. Pound also cede today on risk aversion, reaching 1.5370 fresh 5-week low before halting the slump; entering Asia close to that level, hourly indicators have a slightly bullish tone yet still lacking strength: pair needs at least to accelerate or confirm above 1.5440 area, to extend the upside correction.

“Bigger time frames hold a bearish tone, suggesting the upside will likely remain limited till European opening,” said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.5410 1.5370 1.5330. Resistance levels: 1.5440 1.5490 1.5520.

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