FXstreet.com (Barcelona) - Economic indicators have shaken the Pound up and down on Thursday; the Sterling rose to 1.6610 intra-week high on higher than expected retail sales to drop afterwards to levels approaching 1.6510 intra-day low on the back of a sharp increase of UK public deficit. The Pound trades now at 1.6520 with next support level at 1.6500 intra-day low, and below here, 1.6430 (Aug 10 and 11 low), and 1.6390 (Aug 12 low). On the upside, resistance levels lie at 1.6500 intra-day low, and below here, 1.6430 (Aug 10 and 11 low), and 1.6390 (Aug 12 low). According to Ian G Coleman, collaborator at FXstreet.com, the Pound is on an upside trend and 1.6560 resistance is key for further rally: "If you look to the daily chart we are hanging onto that big trend line with a large hammer yesterday. We pulled higher but only to be stopped by the previous support now resistance, at 1.6562. This also lined up with the trend channel. We are non –trending but the ADX is turning up. A clear break here and I would look to 1.6780-95 area as the next target."

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