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Forex pairs in this Article » GBP/USD (Córdoba) - The Wells Fargo analyst team remains reasonably neutral on the pound versus the U.S dollar over time. "Activity data continue to show hints of renewed softness, but elevated inflation should keep the Bank of England of hold for now".

"Longer term, existing long FX positions, balanced technicals, and subdued U.K. growth, could see some slight slippage in the pound", they add.

According to analysts at Wells Fargo, initial support is at $1.5962 (late November low), followed by $1.5829 (mid November low). Uptrend support since June is currently at $1.5966. Initial resistance is at $1.6179 (recent high) and $1.6381 (early January high), followed by $1.6455 and $1.6618 (both August 2011 highs).
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