FXstreet.com (Barcelona) - Pound's sell-off from 1.6048 high has found support at 1.5880 support area, and the `pair has bounced shyly reaching levels right above 1.5915 at the moment of writing.

On the upside, the Pound might find resistance at 1.5030 previous intra-day low, and above here, at 1.6025 (Oct 1 and 5 high) and then at 1.6050 intra-day high. On the downside, below 1.5880, next support levels could lie at 1.5770 (Sept 28 low) and 1.5755.

On a wider point of view, the Kshitij Consultancy Service Team observes the Pound pointing down, with upmoves limited at 1.6183: The 55-MA on the 8H at 1.6183 could be the max that the pair may scale before it falls sharply towards 1.57 and even 1.54 (the S-H-S target). It might be ranged over the next few sessions if any significant movement is not seen. And the range could possibly be 1.5850-1.6080.

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