FXstreet.com (Barcelona) - The Pound is moving sideways in a range from 1.6170 to 1.6230 after bouncing from 1.6135 low in Asian session, inside a triangle formation shaping up between downtrend resistance from Jan 21 high at 1.6310 and uptrend support line from Jan 22 low at 1.6075.

On the upside, initial resistance lies at 1.6230 (session high/trendline resistance), and above here, 1.6260/65 (Jan 26 highs) and 1.6310 (Jan 21 high). On the downside, support levels lie at 1.6130 session low and below here, 1.6100/05 (Jan 27 low) and 1.6075 (Jan 22 low).

GBP/JPY rejection from 147.30 on Tuesday found support at 143.65, 5-week low, on Wednesday, and the pair picked up during Asian session, reaching levels around 147.65 at the moment of writing. Resistance levels are 146.70 and 147.30. Support levels lie at 145.85 and 145.55/65.

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