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Forex: GBP/USD fails at 1.5900 and makes it easier to 1.5830 area

GDP in the third quarter and recovering 1.5650 low on Monday as accelerated above 1, 5750/70 resistance levels increased FXstreet.com (Barcelona) - the pound strongly about the European session, fueled by a larger than expected growth in UK to reach 1.5900 high, where the couple before pulling back to 1.5830 area limited.

Below 1.5830 support area which could pair its correction, Valeria Bednarik, technical analyst at FXstreet.com speed, says: "with indicators both 1 and 4-hour charts, favouring exhausted corrected current bearish movement, still support use around 1.5830;""level find this istunterhalb they expect more downside pressure."

Next levels of support below 1.5830, upside risks are 1.5800 and 1.5770 according to Bednarik.Mit tainted are resistance levels 1.5880, 1.5920 and 1.5960.

GBP/USD