Forex: GBP/USD falls from 1.6180

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Forex: GBP/USD falls from 1.6180

FITITOL--> FXstreet.com (San Francisco) - After rallying from 1.6090 to reach fresh intra-day high at 1.6180 on the back of unchanged BoE monetary policy, with rate at 0.5% and asset purchase program at £325B, the Sterling has begun to trade lower against the Dollar from highs to test 1.6150 zone.

In this level, the GBP/USD seems to have found support with the pair rising back to 1.6160 where it is pricing currently, posting 0.20% gains so far today. The is "Strongly Bearish" and "Overbought" according to the FXstreet.com Technical Studies.

"In terms of technical levels, supports are seen at 1.6067/60 and then at 1.6009," comments the Talking-Forex.com team. "On the other hand, resistance levels are seen at the 10DMA line at 1.6186 and then at 1.6239.