FXstreet.com (Barcelona) - Pound's recovery from 1.6055 low on Asian session, has been capped at 1.6240 session high, right above Dec 13 high at 1.6235, and the pair has pulled back to 1.6140 ahead of the U.S. session opening.
Below 1.6140, next resistance levels lie at 1.6100 and then 1.6055 session low. On the upside, resistance levels lie at 1.6235/40 (Dec 31 high/session high), and above here, 1.6250 Dec 18 high, and 1.6300 congestion area.
According to the ecPulse.com analysis team, the pair remains on the upside while above 1.6125 with significant resistance at 1.6240: The expected bullish direction will be insured with four-hour closing above the mentioned neckline (1.6240) opening the way towards 1.6445. It is essential that 1.6125 remains intact for the expectations to prevail.