StockMarketWire.com - A recent dip in the British pound against the US dollar could mark a short-term buying opportunity if it does not break below support levels around the $1.60 level.
At 1147 GMT, the pound was down 0.12% at $1.6023.
"Unless it breaks beneath $1.60," said an analyst at TJ Markets, "I expect the dip to be a short-term buying opportunity."
Michael Hewson, senior market analyst at CMC Markets, warned the pound's recent fall below $1.6040 undermined the pair's recent bullish scenario.
"Major trend line support remains at $1.5850 from the $1.5270 lows, as well as $1.5660," Hewson said.
Story provided by StockMarketWire.com
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