FX : GBP/USD: Pound, back above 1.6500, testing 1.6515
FXstreet.com (Barcelona) - The Pound is gathering strength during European session so far, and the pair has risen from 1.6430 reaching levels above 1.6500 to test 1.6515 level.
In case of further appreciation, the pair might find resistance at 1.6540, and above there, 1.6610 and 1.6690. On the downside, immediate support lies at 1.6430 intra-day low, and below here, 1.6400 (Sept 15 low) and 1.6380 (End Aug /Start Sept highs).
On the Daily chart, Anna Couling, technical analyst at Master the Markets, sees the Pound stalled at the 1.6500 region: " The longer term picture remains the same in that only a break and hold above USD1.66 will signal any bullish move higher whilst a breach of the USD1.60 will indicate that a bearish sentiment towards Sterling is in the ascendency."
