FXstreet.com (Barcelona) - The Pound has rallied on the back of U.S. PPI and housing data and rushed through 1.6445 session high to reach 1.6490 high so far.

Initial resistance level lies at 1.6500 and above here, 1.6530 (61.8 retracement of the Aug- Oct fall) and 1.6570 (Sept 28 high). On the downside, supprt levels below 1.6445, lie at 1.6350/60 intra-day low, and below here, 1.6310 and 1.6280.

Above 1.6470 resistance, the Pound could reach 1.6600, according to the the Kshitij Consultancy Service: Till this Resistance zone of 1.6435-60 holds, it can bring the pair down towards 1.6200 but a break of this Resistance is likely to make Cable very bullish. Else a break is likely to next target 1.66 over the next few days.

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