FXstreet.com (Barcelona) - Pound's rebound at 1.6150 low on Thursday has extended to 1.6380 European session high although the pair has pulled back somewhat, and trades around 1.6350 at the moment of writing.

According to Carol Harmer, technical analyst at Charmer Charts, once above 1.6320, the odds increase for a rally to 1.6450/80: Now this is good resistance at 1.6305/20 and today you so not wish to see the market break above here. If it does then the downside pressure will be taken off, and bulls will be in with a good chance if taking this higher to 1.6450/80 to 1.6510.