FXstreet.com (Barcelona) - Pound's attempt to break lower has hold at 1.5860 intra-week low, and the pair has returned to the previous trading range, between 1.5880 and 1.5940. At the moment of writing, the Sterling trades at 1.5915.

However, the Pound remains weak with intra-day and hourly studies negative, according to Liviu Flessar, technical analyst at InnerFX: Both short-term and intra-day studies are negative and a short-term change in momentum would be signaled only by breaking above 1.6100/30. Downside is favored for now.

Support levels lie at 1.5800 (Jun low/Oct 2 low)) and below there, 1.5770 (Sept 28 low) and 1.5755. On the upside, resistance levels lie at 1.5945/55 (session high/Oct 2 high), and above here, 1.6000 and 1.6050 (Oct 6 high).

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