FX : GBP/USD: Pound rally extends to levels above 1.6550
FXstreet.com (Barcelona) - The Pound has shrugged off Asian session weakness and, after having found support at 1.6420, the Pound has broken resistance at 1.6525, the Pound rose past 1.6550 reaching levels at 1.6565.
On its way up, the Pound could find resistance at 1.6570/80, and above here, yesterday's high at 1.6610, and 1.6665 (August 13 high). On the downside, support levels lie at 1.6500, and below here, 1.6420 intra-day low, and 1.6375 (Aug 19 low).
According to the Swiss e Trade Strategy Team, the Pound could pullback from current levels: "We see a maximum upside potential of only 1.6550 for today, and expect downmoves from there to 1.6460."
