FXstreet.com (Barcelona) - The Pound has failed to break 1.6600 resistance Area on its rally from 1.6405 low on Tuesday's U.S. session, and the pair has declined to levels right above 1.6500 at the time of writing. Initial support level at the moment lies at 1.6485/00 area (Intra-day / Aug 13 and 14 low), and below there, 1.6430 (Aug 11 low) and 1.6390/05 (Aug 12 low). On the upside, resistance levels lie at 1.6560 (Aug 12 high), and 1.6600. GBP/JPY rally from 153.45 low on Monday has reached an intra-week high at 157.50 on Asian session before turning down to levels below 156.00 at the moment of writing. The Pound is approaching support at 155.25 ahead of the European session opening, and below here, next support could be 154.00. Resistance levels lie at 157.00 and 157.55.

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