FXstreet.com (Barcelona) - The Pound has remained trading within a flat channel during European session as the slight post-BoE decline was held above 1.5920 support, aned the following bounce was capped at 1.5975 range top.

Initial support lies at the mentioned 1.5920 (Dec 22 low/session low), and below here, 1.5850 and 1.5825. On the upside, resistance levels lie at 1.6030 (Dec 21 low), and above here, 1.6050 and 1.6125.

For the next sessions, no major changes are expected on low pre-Christmas volatility, and the Pound will remain rangebound, according to the Swiss e Trade Strategy Team: The review of the BoE's monetary policy this morning had little effect on the market. We expect the 1.5920 level to hold today, leaving room for a see-saw behavior, 1.5980 on the up- and 1.5920 on the downside.

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