FXstreet.com (Barcelona) - Pound reversal from 1.6378 intra-week high has extended below support area at 1.6255 intra-day low, and the pair reached 1.6205 intra-day low, right above 1.6200 support.

In case of further decline, next support levels could be located at 1.6180 (Aug 31 low) and 1.6150 (Aug 27 low). On the upside, the Pound could find resistance at previous intra-day low 1.6255, and above here, 1.6300 and 1.6380 (Intra-day high/ Aug 28 high).

Karen Jines, technical analyst at Commerzbank warns about a close below 1.6210, as it could confirm 1.7040 high as interim top: The outlook is negative and a close below 1.6210 will be significant - as it will confirm the 1.7040 high as an interim top and target 1.5800/1.5690 en route to 1.5275.

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