FXstreet.com (Barcelona) - The Pound continues its climbing after bouncing at two-week low at 1.6385, the Pound has reached levels above 1.6600, hitting intra-day high at 1.6620 so far.
According to Carol Harmer, technical analyst at Charmer Charts, confirming above 1.6585, the Pound could reach 1.6720/40: Cable needs to hold below 1.6585. If it fails then there is little chance of a downward move before this has tested 1.6720/40 once more..
Furthermore, above 1.6740, Harmer observes 1.6830 area: Now if the market is going to take off and breaks 1.6740 you are looking at a sharp move higher to 1.6830 before sellers will be evident. This is the last gasp chance for sellers in the short term.