FXstreet.com (Barcelona) - Pound recovery attempt from 1.5010 low on European trade has been capped at 1.5105 and the pair has resumed downtrend on early US session breaking below 1.5010 session low to hit a fresh 6-week low at 1.4995.

Hourly indicators have lost bullish momentum, according to Valeria Bednarik, although 4 hour chart show exhaustion on the downside: "Hourly indicators lost bullish momentum while 20 SMA remains bearish above current price limiting the upside. 4 hours indicators are showing first signs of downside exhaustion, thus pair will need to regain mentioned 1.5120 area to lose current bearish tone."

Support levels below 1.5000, according to Bednarik, lie at 1.4980 and 1.4930. On the upside, resistance levels lie at 1.5060, 1.5120 and 1.5160.


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