FXstreet.com (Barcelona) - The Sterling has continued with its advance against the Dollar from today's low at 1.6485, MA55 hourly chart, during the American session to test the 1.6600 level in the last minutes. Currently the pair is trading around 1.6575/85, 0.10% below today's opening price action.
The FastBrokers Research Team comments: The Cable is dipping after breaking through our previous 3rd and 4th tier downtrend lines and the psychological 1.65 level. We mentioned before how a failure of both our 3rd and 4th tiers signals a probable retest of September highs and possibly the highly psychological 1.70 level. The Pound continues to find strength in the BoE's decision to stray from its overtly dovish monetary policy in light of recent optimistic econ data.
FastBrokers provides us with its levels: Resistances: 1.6564, 1.6594, 1.6630, 1.6658, 1.6686, 1.6718. Supports: 1.6538. 1.6515, 1.6489, 1.6459, 1.6427, 1.6399.