FXstreet.com (Barcelona) - Pound's rebound on 1.6515 Thursday's low has extended on Friday's Asian and European sessions up to 1.4690/00 resistance area, getting back most of the ground lost from Wednesday to Thursday.

On a wider perspective, Karen Jones, technical analyst at Commerzbank, affirms that the Pound has lost upside momentum, and recovery could be capped at current levels: The market has seen a divergence of the daily RSI - this implies a loss of upside momentum we view upside probes as now limited. Intraday rallies will now find resistance at 1.6620/95 ahead of Mondays high of 1.6844.

Resistance levels, according to Jones, lie at 1.6695, 1.6745 and 1.6845. On the downside, support levels are 1.6554, 1.6512 and 1.6315.