FXstreet.com (Barcelona) - Pound's recovery from 1.6130 low on Monday has extended to 1.6400 resistance area which has been tested several times during Asian session, although the pair has not been unable to break it so far and the Pound eased to 1.6370 at the moment of writing.

Resistance levels lie at the mentioned 1.6400 (Sept 15 low), and above here, 1.6430 (Sept 16 low) and 1.6485. On the downside, Asian session low lies at 1.6340, and below here, the Pound could find support at 1.6300 and 1.6235.

According to the ecPulse.com analysis team, the pair is on the upside, although right below tough resistance areas: The intraday and short term trends are to the upside, where we expect the pair to face some difficulties, due to the different resistance levels between 1.6410 and 1.6425; alongside the overbought signals on the stochastic indicator, which may result in a downside correction to 1.6355 before rebounding back to the upside today; targeting 1.6500 and 1.6635.

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