FXstreet.com (Barcelona) - The Pound has appreciated during the week and from Monday's low at 1.6250, the pair peaked above 1.6600 on Thursday right below 1.6665 which according to Nicole Elliott, senior technical analyst at Mizuho Corporate Bank could be a key level to trigger bulls.
According to Elliott, a weekly close above 1.6665 should accelerate bullish momentum: The longer we hold above 1.6200 the more upside pressure ought to build for an eventual break above pivotal resistance around 1.6665. A weekly close above here should add some much-needed bullish momentum.
Resistance levels, according to Elliott, lie at 1.6605, 1.6625 and 1.6665. On the downside, support levels are 1.6450, 1.6335 and 1.6250.