FXstreet.com (Barcelona) - The Sterling remains capped below 1.6525/30 as the Pair, rejected on its third attempt to break the mentioned resistance area, has pulled down below 1.6500 trading around 1.6485 ahead of the release of U.S. CPI figures.
According to the Kshitij Consultancy Service Team, confirmation below 1.6500 could drive the pair to re-test 1.6450 area: Immediate Resistance is seen at 1.6530. If it holds, a downmove once again below 1.6500 might pull it down towards the Support at 1.6450. With the possibility of a S-H-S on the weekly, we might expect a break below 1.6450 and see a further downmove towards 1.6370-50 in the coming sessions.
Support levels, according to the Kshitij Consultancy Service Team. lie at 1.6450, 1.6370-50 and 1.6320. Resistance levels are 1.6530, 1.6580-6600 and 1.6660-80.