FXstreet.com (Barcelona) - Sterling's decline from 1.6500 opening price found support at 1.6275 and the Pound pulled back to levels above 1.6300, although the pair has turned back again to test 1..6275 low on the back of the negative opening on U.S. stock markets.

According to the Kshitij Consultancy Service Team, in case of confirming below 1.6300, the Pound could go for the 1.6220 target: Cable continued to trade below the 55-DMA and fell sharply during the day breaking below 1.6300 and is now trading lower. If the current downmove continues we may see a dip towards 1.6220-00 in the US session.

Support levels, according to The Kshitij Consultancy Service Team, lie at 1.6220-00, and below here, 1.6100-6080 and 1.5980. O the upside resistance levels are 1.6393, and above here 1.6437 and 1.6470-72.