FXstreet.com (Barcelona) - The Pound has returned to levels above 1.6400 after bouncing at 1.6375, and the Pair has reached resistance area at 1.6445, which is being tested at the moment.
According to Valeria Bednarik, collaborator at FXstreet.com, the Pound could perform a corrective recovery: Strong fall from Asian highs of 1.6690 to 1.6375 has left hourly indicators exhausted, and pointing for an upside correction; however, that movement should remain limited. 1.6440/50 area should hold the upside to keep the bearish bias intact, while break under today's fall could accelerate downside momentum and send the pair to retest yesterday's low at 1.6275.
Resistance levels, according to Bednarik, lie at 1.6445, and above there, 1.6485 and 1.6520. Support levels are 1.6375, 1.6320 and 1.6275.