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Forex pairs in this Article » GBP/USD (Barcelona) - The sterling is trading slight above session lows above 1.6040 levels on Tuesday and almost retracing yesterday's gains, as risk aversion is picking up pace.

"As the GBPUSD holds above the 50-day SMA (1.6058), a third consecutive close above the moving average could foreshadow a lower high in the exchange rate, and we will maintain a bullish forecast for the British pound as the BoE slowly moves away from its easing cycle".

At the moment, the sterling is losing 0.44% against the greenback at 1.6044 with the next support lying at 1.6022 (low Jan.7) followed by 1.6010 (low Jan.4) and then 1.6002 (low Dec.7).
On the upside, a break above 1.6129 (hourly high Jan.8) would expose 1.6165 (MA21d) en route to 1.6255 (high Jan.3).
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