FXstreet.com (Barcelona) - The Pound has shrugged off weakness seen on early European session and after the release of BoE minutes, the Pound has jumped above 1.6400 to consolidate afterwards between there and 1.6440 intra-day high.

Peter Rosentreich, technical analyst at ACM - Advanced Currency Markets, observes a tough resistance area at 1.6454: The release of the BoE minutes spurred GBPUSD higher, threatening the top of the larger downtrend (see today's chart). But last week's 1.6454 high will pose a considerable headwind to a GBP rally, there should be some support below through 1.6350 and further down at 1.6300.

Resistance areas, according to Rosentreich, lie at 1.6410, 1.6435 and 1.6700. Support levels are 1.6210, 1.6115 and 1.5947.

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