FXstreet.com (Barcelona) - After a sell off of about 200 pips during Asian and European sessions, the Pound has bounced up at 4-week low at 1.6275 to bounce above 1.6300 on an unexpected rebound on NY Fed manufacturing Index. At the moment, the Pound trades at 1.6330 ahead of the U.S. session opening.

Initial resistance level lies 1.6340/45 (Jul 29 and 30 low) and above here, 1.6390 (Aug 12 low) and 1.6430 (Aug 11 and 10 low). On the downside, below 1.6300 next support levels lie at 1.6275 intra-day low, and below there, 1.6265 (Jul 17 low) and 1.6200.

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