FXstreet.com (Barcelona) - Pound decline from Monday's high at 1.6195 has found support at 1.6065 low on early European session, and the pair has bounced up, reaching levels around 1.6140, after the narrowing of UK trade deficit.

UK Trade deficit has narrowed to GBP 6.8 billion in November, following a GBP 7.0 billion deficit in October, downwardly revised from the GBP 7.1 billion deficit previously estimated.

At the moment, the Pound trades at 1.6140, with next resistance levels at 1.6155 (Jan 5 high), and above here, 1.6195 (Jan 11 high) and 1.6235 (Jan 4 high). Support levels lie at 1.6060/70 (Jan 4 low/ Jan 6&7 high), and below here, 1.6045 and 1.5955.