FXstreet.com (Barcelona) - The Sterling has continued during the European session with its decline against the Greenback from 2-week high at 1.6635 to break down the 1.6600 level and trade close to 1.6580. Currently the pair is trading around 1.6580/90, testing today's opening price action 1.6580.
Valeria Bednarik, FXstreet.com collaborator, comments: Consolidating under 1.6600, pair remains printing higher highs, yet no clear signs come form hourly indicators. Bigger time frames one also remain flat, yet with a slightly bullish perspective for next hours. Pair needs to move above the 1.6640 area, to extend the upside close to 1.6690. On the contrary, if loses 1.6520 support, downside likely to accelerate.
Bednarik provides us with her levels: Support levels: 1.6550 1.6520 1.6480. Resistance levels: 1.6640 1.6690 1.6735.