CORRECTION - The Pound has broken higher on early European session, to hit a session high at 1.6275 and NOT at 1.6255, as initially published. The corrected information is published below. (Barcelona) - Pound's recovery from Asian session low at 1.6135 has extended at European session opening as the pair rallied about 75 pips, on the back of a strong opening on the FTSE stock market, to hit a fresh day high at 1.6275.

In case of consolidating above 1.6260/65, next resistance level could 1.6310 (Jan 21 high) and then 1.6370/80 (Jan 18/20 highs). On the downside, support levels lie at 1.6130 session low and below here, 1.6100/05 (Jan 27 low) and 1.6075 (Jan 22 low).

London FTSE market has opened on a strong note, with a 1.2% advance, following the path of Asian markets on improved market sentiment after Obama's speech to the congress.