FXstreet.com (Barcelona) - The Pound is rallying aggresively across the board, and has extended its upmove from 1.5705 low on Oct 13 to levels above 1.6200, as the pair reached a fresh 3-week high at 1.6240.
Above 1.6200, the pair could face congestion between 1.6270 and 1.6385, says Peter Rosentreich., technical analyst at ACM - Advanced Currency Markets: Horizontal resistance 1.6127,attract some sellers intraday but failed to hold. The pair would faces congestion between 1.6272 and 1.6381 with long term GBP sellers likely to take advantage.
Resistance levels above 1.6125, lie at 1.6275 and 1.6300 according to Peter Rosentreich., . Support levels lie at 1.5724, 15690 and 1.5555.