FXstreet.com (Barcelona) - Sterling's reversal from Asian session high at 1.6675 has extended well below 1.6605 intra-week low as the Pound lost about 125 pops during the day so far, reaching levels at 1.6545; 0.70% below its day-opening level.

According to Stoyan Mihaylov, technical analyst at Deltastock.com, the Pound's target is at 1.6515. The break below 1.6627 support has set the focus on 1.6515 major support and we are rather neutral here, as only a break above 1.6675 will bring the positive outlook back on the charts.

Support levels, according to Mihaylov, lie at 1.6515, 1.6250 and 1.5706. On the upside, resistance levels are 1.6619, 1.6674 and 1.7042.