FXstreet.com (Barcelona) - The Sterling's decline against the Greenback after reaching 1.6445, 3-week high, in Asian session has found support at 1.6350 to bounce at this level and rise to test back October highs close to 1.6435. Currently the pair is trading around 1.6425/35.
Steve Nigg, analyst at the Swiss e Trade Strategy Team, comments: Cable has shown remarkable resilience since most analysts have been recently predicting prices to fall to 1.5700 and even 1.5400 as recently as last Friday. Support for Sterling continues to come from higher share prices worldwide as well as rumors that England will soon end its QE program. We see 1.6470 as important resistance to any further gains for this currency pair. Support is seen at 1.6355.