FXstreet.com (Barcelona) - The Pound has broken above resistance area at 1.6355 and the pair has extended recovery from 1.6130 low on Monday to current levels around 1.6370.

Valeria Bednarik, collaborator at FXstreet.com warns about bearish divergencas on the pair: Pair reached the 50% retracement of the Fibonacci rally 1.6567/1.6135, and retreat some pips, yet remains consolidating clearly above the 38.2% of the same rally, suggesting some more upside to come in next hours.20 SMA is back bullish, while momentum could be starting to show some bearish divergences.

Resistance levels, above 1.6350, according to Bednarik, lie at 1.6400 1.6440, on the downside, support levels lie at 1.6320, 1.6270 and 1.6240.

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