FXstreet.com (Barcelona) - The Pound has been the major mover during Asian session, with its upmove from 1.5900 area, breaching past 1.6348/1.6412 resistance area, which, according to Karen Jones shifts the nerar-term risk to the upside.

The Pound has eroded resistance at 1.6348/1.6412, shifting the pair's short-term risk to the upside, says Jones: Sterling has started to erode the 1.6348/1.6412 resistance - this is the location of the 55 day moving average, the 50% retracement and the 16th December high. This has altered our view as the near term risk has skewed to the upside.

The near-term target, from now on, lies at 1.6480/1.6655, says Jones: We will assume potential for further gains to 1.6480/1.6655 then the 1.6745 pivot.