FXstreet.com (Barcelona) - The Pound's attempt to pick up from 1.6340 low has been capped at 1.6410, and the Sterling has retreated to levels around 1.6360, with intra-day low at 1.6340 on sight.

According to the Swiss e Trade Strategy Team, the Pound could drop to test 1.6300 level: The Pound is hovering just above some important support lines against the dollar, right now around 1.6390. We don't expect the support line of 1.6300 to be broken today, but to be touched in later trading.

Initial support remains at intra-day low 1.6340, and below here, the Pound could find 1.6325 and 1.6275 (Aug 18 low). resistance levels lie at 1.6440/50, and above here, 1.6525 and 1.6570.

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