FXstreet.com (Barcelona) - Pound's decline from 1.6720 high on Thursday has found support at 1.6520 on Asian session, and the Pound has soared on early European session above 1.6610 level which, according to Carol Harmer, technical analyst at Charmer Charts, could open the doors for a run to 1.6740/50.

Break of intra-day resistance at 1.6610 could trigger bulls for a re-test to 1.6740/50 area, says Harmer: Intra day resistance is at 1.6610. If buyers weave through the sellers defence then we can see this rise up and break above this resistance for another attack at 1.6740/50.

On the downside, if 1.6620 fails to be breached, Harmer foresees decline to 1.6497/95: If sellers defend 1.6610 look for move lower to 1.6497/95. This is the 50% short term fib level and as such will offer a smidge of support.

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