Forex: GBP/USD recovery capped by 1.6000 (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 locates immediate supports at 1.5950, 1.5910 and 1.5880, while resistances are seen at 1.6000, 1.6025 and 1.6065.

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