FXstreet.com (Barcelona) - The Pound continues trading lower from 1.6125 high on Sept 30, as the pair's attempt to bounce from 1.5880 was capped at 1.5950, and the Pound moved down to session low at 1.5865.
Below 1.5880 support, Carol Harmer, technical analyst at Charmer Charts observes potential to decline to 1.5850 and 1.5825/15: Overnight support is at 1.5880 and a break back below here would take the market lower for 1.5850 initially with greater potential for 1.5825/15. Here sellers will be taking profits.
On the upside, Harmer points out to 1.5960 level to trigger bulls: if the market does break back above 1.5960 look for 1.5990 initial target. Buyers will re-instate longs above 1.5990 as this would see a move higher for 1.6020/40.