Forex: GBP/USD finds support at 1.6065, back above 1.6100

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Forex: GBP/USD finds support at 1.6065, back above 1.6100

FITITOL--> FXstreet.com (San Francisco) - The Sterling has finally found support at 1.6065, lowest since April 20th, after falling around 90 pips against the Dollar thi morning. The GBP/USD has used this level as support and it has begun to rise back above 1.6100 to reach levels close to 1.6115 in the last few minutes.

Currently the pair is pricing 0.30% losses so far today from opening price action. Cable seems to be "Slightly Bullish" and "Extremely Oversold" in the short term according to the FXstreet.com Technical Studies.

According to the Talking-Forex.com team, "supports are seen at 1.6039/09 and then at the 55DMA line at 1.5943. On the other hand, resistance levels are seen at the 10DMA line at 1.6190, 1.6239 and then at 1.6304."