Swiss e Trade Strategy Team, the pair should appreciate after the corrective pulldown seen in the European session: "On a correction path from highs around 1.6600, cable is currently priced at 1.6445. We do not see much more downside risk in today’s trading - after a test of the 1.6400 level, the market should recover to 1.6550."

On the way up, the Pound could find resistances at 1.6480/90, and above there, 1.6580/00 intra-day high and then 7-month high at 1.6660. =n the downside, below intra-day low at 1.6420, next support comes at 1.6360/65 (Jun 9 high), and 1.6300.

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Forex: GBP/USD: Pound attempting to bounce from 1.6420 day low

FXstreet.com (Barcelona) - After failure to break 1.6660 resistance level during Asian session, the Pound has dropped about 160 pips during European trading hours to hit an intraday low af 1.6520. At the moment the Pound is trying to pick up, reaching levels around 1.6550.

According to the Swiss e Trade Strategy Team, the pair should appreciate after the corrective pulldown seen in the European session: "On a correction path from highs around 1.6600, cable is currently priced at 1.6445. We do not see much more downside risk in today’s trading - after a test of the 1.6400 level, the market should recover to 1.6550."

On the way up, the Pound could find resistances at 1.6480/90, and above there, 1.6580/00 intra-day high and then 7-month high at 1.6660. =n the downside, below intra-day low at 1.6420, next support comes at 1.6360/65 (Jun 9 high), and 1.6300.

For more information, read our latest forex news.

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