FXstreet.com (Barcelona) - Pound's recovery from yesterday's low att 1.6080, has extended on European session above 1.6200, and the pair has reached intra-day high art 1.62250 before easing to current levels, at 1.6210.
Resistance levels lie at 1.6250 session high, and above here, 1.6315/20 (Dec 14/15 high) and 1.6375 (Dec 9 high). On the downside, below 1.6200, next spport levels could be 1.6125 (Sept 30/Oct 8 highs), and below here, 1.6080 (Dec 17 low) and 1.6000.
Pound's rally has lost strength, and according to the FXMarketAlerts Team, macroeconomic data dies not support current trend: GBP rally that was seen at the start of the Eurozone trading day has lost momentum and now bids are being sought out. Data that matters today is limited to the just released PSNCR for Nov, which was slightly lower than expected at GBP14.671 bln, but still the highest Nov on record and up from Oct's GBP10.632 bln level. There is nothing in the way of good news for GBP in the data and the trend it represents. M.B.