AFX: Forex: GBP/USD: Pound pulls down from 1.6040 to levels below 1.6000
The Pound has gone through a moderate correction after hitting a fresh 6-month high at 1.6040, driving the sterling back to 1.5950, to pick up afterwards to levels right below 1.6000.
Initial resistance lies at the 1.6000 level, and above there, 1.6050 (38.20% Fib retracement of the Jul 08-Jan 09 decline), then, next resistance comes at 1.6160. Support levels lie at the 1.5950, and below there, 1.5915/25 (Intra-day support) and 1.5830 (May 25 low).
