FXstreet.com (Barcelona) - The Dollar continues weakening across the board on Monday following Friday's weak employment report, and the Pound has broken above 1.6110 resistance (200 day MA), to reach session high levels at 1.6155 so far.
At the moment, the Pair is setting an assault to 1.6155 resistance (Jan 5 high). In case of success, next resistance levels could be at 1.6235/45 (Dec 31/Jan 4 high) and 1.6250 (Dec 18 high). On the downside, support levels lie at 1.6060/70 (Jan 4 low/ Jan 6&7 high) and below here, 1.6045 and 1.6005.
On a wider point of view, Karen Jones, technical analyst at Commerzbank expects Pound's rally to fail at 1.6363 (55 day ma): We look for the market to now remain capped by 1.6363 (55 day ma) for the negative bias to persist (initial resistance lies at 1.6232/42).