FXstreet.co (Barcelona) - Pound''s rebound at 1.5935 during European session has been capped at 1.6000 psychological level, and the pair has dropped all the way to hit a session low at 1.5905.

Below 1.5870, the Pound could drop to 1.5820 according to Valeria Bednarik, collaborator at FXstreet.com: No doubts Pound remains the second weaker currency across the board, after greenback. Testing the strong 1.5920 support area keeps holding the downside, while real strong support comes at 1.5870 zone. Under that level, pair should extend downside rally close to the 1.5820 zone with no much problems in the middle.

Support levels, according to Bednarik, lie at 1.5920, 1.5870 and 1.5820. On the upside, resistance levels lie at 1.5960, 1.6020 and 1.6060.