FXstreet.com (Barcelona) - Pound's pull down from 1.6125 intra-week high, has extended to levels below 1.6000, to hit an intra-day low at 1.5945, giving away half of the ground taken since Monday.

According to Mohammed Isah, technical analyst at FXTechstrategy, a close below 1.5988 could pput pressure over 1.5768: On the other hand, pullbacks should initially aim at its Tuesday high at 1.5988 with a break and close below there putting pressure on the 1.5768. Below there with will put the pair on the path to further declines towards the 1.5500 level, its psycho level and then its .50 Ret( 1.3652-1.7041 rally) at 1.5350.

At the moment, the Pound lies over support level at 1.5940, and below here the pair could find support at 1.5880 and 1.5800 (Jun 8 low). On the upside, resistance levels lie at 1.6110 (End Aug/Start September lowas) and then at 1.6200 and 1.6350.

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