FXstreet.com (Barcelona) - Pound's rally has capped at 1.6460 and the pair has pulled back to 1.6310 in a corrective move, which according to Valeria Bednarik, Collaborator at FXstreet.com, could be complete and the pair might resume uptrend during coming sessions.

Fro the coming session, Bednarik expects the Pound to re-test 1.6410, if the Pound returns above 1.6360: Pound has been quite bullish these days, and despite current downside corrective movement, that is probably complete after pair rebounded in 4 hours 20 SMA, we could expect further upside pressure to come; if the pair manages to regain back the 1.6360 area, chances are of a retest of the 1.6410 level quite soon.

On the downside, Bednarik points out to 1.6300 support level: Pair needs to move under 1.6300 to lose upside momentum, with 1.6250 as first strong support level to watch. Seems unlikely the pair could manage to lose that level today.