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Forex pairs in this Article » GBP/USD (Barcelona) - Pressured to the downside, the Pound was again hit by much worse than expected UK retail sales, after rumours of rush to buy Olympic tickets proved wrong. The pair reached 1.6078 before starting a correction on risk aversion easing. Current price is on a timid upward motion at 1.6170.

According to Valeria Bednarik, Chief Technical Analyst at "The hourly chart is showing indicators back turning south, pair seems pretty much limited to the upside for this Friday. Immediate resistance comes around 1.6170, recent highs, and once above pair may extend towards 1.6220, yet selling interest at that area may send the pair back lower. Lose of 1.6110, should signal a retest of mentioned low ahead of 1.5970 area."

Support levels: 1.6110 1.6070 1.6025, Resistance levels: 1.6170 1.6220 1.6260
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