FXstreet.com (Barcelona) - Pound's decline from 1.6565 on early European session has found support at 1.6455 and the Pair has bounced back returning to levelsaround 1.6500.

Initial resistance area lies at 1.6515 and above here, 1.6585 (Sept 8 high), and 1.6620 (Aug 21 high). On the downside support levels lie at 1.6445/50 (Sept 7 high), and below there, 1.6415 (Sept 3 & 4 high) and 1.6375 (Aug 28; Sept 1 high).

However, according to Greg Holden, technical analyst at ForexYard, there is a bearish cross on daily charts, which could anticipate a bearish correction: The hourly chart is showing mixed signals with its RSI fluctuating at the neutral territory. However, there is a bearish cross forming on the daily chart's Slow Stochastic indicating a bearish correction might take place in the nearest future.

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