FXstreet.com (Barcelona) - After having remained consolidating art levels between 1.6505 and 1.6565 for the whole European session, the Pound has broken below 1.6500 intra-day low, reaching levels around 1.6480 at the moment of writing.

Initial support level lies at 1.6430 (Aug 10 and 11 low), and below there, 1.6390 (Aug 12 low) and 1.6325 (Aug 18 low). On the upside, above 1.6500/05, next resistance levels lie at 1.6565, and above there, 1.6595/00 and 1.6660 (Jun 3 high).

According to the Swiss e Trade Strategy Team, the Pound could test levels at 1.6440: Although in low volatility, and is currently trading at 1.6540. We see the 1.6600 level being untouched today and expect downmoves to the 1.6480 to 1.6450 levels.