FXstreet.com (Barcelona) - Pound's recovery from 1.6515 low on Thursday has extended on early European session to levels right below 1.6700 as market sentiment experienced a slight improvement.
The pair has bounced at 9-day moving average, and according to Nicole Elliott, senior technical analyst at Mizuho Corporate Bank, the pair could rally to 1.6750/1.6800 region: Cable held above immediate trendline support and the 9-day moving average, forming a 'doji' candle in the process. This should help it move back toward 1.6750/1.6800 again.
next resistance levels, according to Elliott, lie at 1.6700, 6750 and 6800. On the downside, support levels lie at 1.6574, 1.6515 and 1.6500.