FXstreet.com (Barcelona) - The Sterling bounced at 1.5930 intra-day low on its retreat from 1.6120 high on Thursday and the Pound attempted to pick up although sellers have showed up at 1.6000 psychological level to send the pair back to 1.5950 at the moment of writing.

If resistance area at 1.6000/30 does not give way, the Kshitij Consultancy Service Team advances the possibility of a drop to 1.5850-30: If this Resistance (1.6000/30) is honoured, expect a fall towards 1.5850-30 during the US session. The Projected Max High and Low for the day is at 1.6088 and 1.5916 respectively.

Support levels, according to the Kshitij Consultancy Service Team, lie at 1.5916-10 and 1.5850-30. Resistance levels are 1.6000-30, 1.6088-6100 and 1.6142-77.

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