GBP/USD trades back above 1.5900

FXstreet.com (San Francisco) - The Sterling is attempting to recover ground against the US Dollar after falling from 1.5990 to 1.5855 in the European session. The GBP/USD bounced at this level and now it is trading back above the 1.5900 area.

Currently, the GBP/USD is pricing at 1.5905, 0.55% negative on the day. The short term perspective remains strongly bearish according to the FXstreet.com Trend Index in the 1-hour chart. MACD, CCI and momentum indicators are pointing to the south while the Stochastic is neutral.

Below the 1.5900, the GBP/USD would face supports at 1.5890 and 1.5955. On the upside, resistances are at 1.5950, 1.5965 and 1.5990.