FXstreet.com (Barcelona) - The Pound has weakened somewhat during early European session and after having reached 1.6750 session high, the pair has pulled down although it remains above intra-day low at 1.6685.

The Pound is looking further up and, according to Mohammed Isah, technical analyst at FXTechstrategy, the pair has to break above 1.6640 to aim to YTD high at 1.7041: Having maintained a third week of upside, GBP still looks to head further higher but must break and hold above the 1.6692 level, its Oct 23'09 high and the 1.6740 level, its Sept 11'09 high to signal further higher prices towards its YTD high at 1.7041.

On the downside, Isah points out to 1.6515 as initial support area: On the other hand, supports are located at the 1.6516 level, its Nov 12'09 high and the 1.6249/60 area, its Oct 26'09/Nov 03'09 lows. These key levels must hold if tested to prevent the pair from declining further and targeting its big support standing at its Oct 30'09 high at 1.6124 level and then the 1.5706 level, its Oct 13'09 low.