FXstreet.com (Barcelona) - The Pound continues rallying on the back of BoE minutes and, after having confirmed above 1.6500, the Pound has reached 1.6590, right below 1.6600.

The Pound has broken 1.6435 Fibonacci resistance and, according to Karen Jones, technical analyst at Commerzbank, targets 1.6745/70: The market will stay directly bid above 1.6235 and should now see the 1.6535/Fibonacci reistance eroded for gains to 1.6745/70. The move above 1.6470 has neutralised the chart short term and targets 1.6745/70 - it is possible that 1.7040/50 could be retested.

Resistance levels, according to Jones, lie at 1.6745/65, 1.6845 and 1.6890/1.6900, Support levels are 1.6300, 1.6235 and 1.6135/15.

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