GBPUSD
The minor recovery attempts during the last few days have found solid selling pressure, hence the downside is under renewed pressure – now trading around 1.5870. Support is formed by the 1.5800 handle and 1.5720, lower. Both short-term and intra-day studies are negative and a short-term change in momentum would be signaled only by breaking above 1.6100/30. Downside is favored for now. Current quote is 1.5875 @06:10 GMT
Support: 1.5800, 1.5720/50 and 1.5650
Resistance: 1.5900, 1.5950, 1.6000 and 1.6050
http://mediaserver.fxstreet.com/Repo...1007061429.png

