Forex: GBP/USD recovery capped by 1.6000

FXstreet.com (Córdoba) - Weighed by the negative turn in risk sentiment, GBP/USD fell sharply at the beginning of the American session and made a fresh 2-week low of 1.5953 against the greenback before finding buyers.

Even though GBP/USD managed to bounce from lows, the recovery was capped by the 1.6000 psychological level. At time of writing, GBP/USD is trading at the 1.5975 zone, 0.1% below its opening price, having retreated from a high of 1.6040 scored earlier on the day.

Valeria Bednarik, chief analyst at FXstreet.com locates immediate supports at 1.5950, 1.5910 and 1.5880, while resistances are seen at 1.6000, 1.6025 and 1.6065.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

RELATED TOPICS