GBP/USD steady below 1.6100 - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik remarks that GBP/USD is trading below the 1.6100, close to the 23.6% retracement of its latest bearish streak.

Key quotes

"It's maintaining a quite neutral technical stance in the short term: the 1 hour chart shows price moving back and forth around a flat 20 SMA while indicators hover around their midlines."

"In the 4 hours chart 20 SMA begins to turn flat below current price, in the 1.6030 price zone, while indicators head higher above their midlines: as yesterday, some steady gains above the 1.6110 price zone are required to confirm some further gains for today."