FXstreet.com (Barcelona) - Pound's decline has found support at 1.6165 fresh 3-weeks low, on early European session, and the Pound has bounced up ever since, reaching session high levels at 1.6355 so far.

Despite the recent rebound, Peter Rosenstreich, technical analyst at ACM - Advanced Currency Markets, stresses out Pound's breach below 1.6250 key support level: This morning's strong snap back in GBPJPY has dragged GBPUSD back above 1.6300, but if a break of this 1.6250 neckline is confirmed then it would look to target 1.5600 levels.

On the upside, resistance levels, according to Rosentreich, lie at 1.6484, 1.6744 and 1.6880. Support levels are 1.6250, 1.5990 and 1.5600.