FXstreet.com (Barcelona) - The Sterling's decline has found support at intra-week low at 1.6515 against the Greenback and the pair has bounced at this level to trade above 1.6550, breaks MA200 60 minutes chart at 1.6570 and test 1.6590 level.

Currently the pair is trading around 1.6545/55, 0.15% above today's opening price action at 1.6573.

The Kshitij Consultancy Service Team comments: Cable fell further and has then bounced a little. The Support at 1.6510 has held on first testing. If it continues to hold, rally towards 1.6850 may happen over the next couple of weeks. Else a break of this Support would target 1.6350 very soon. Hence this is a crucial Support.