FXstreet.com (Barcelona) - The Pound is trading at levels around 1.6850 after rally from 1.6475 low on Friday extended to 2009 low at 1.6875 on early European session.
According to the Kshitij Consultancy Service Team, the Pound could rise further, as the pair broke important resistance at 1.6820: "Cable has risen sharply during the day breaking past an important Resistance at 1.6820 and looks now headed for a rise towards 1.6940 which is a channel Resistance (the channel being formed by the joining the highs of 11-Jun '09 at 1.6621 and 30-Jun '09 at 1.6746 for the top and the Lows of 8-Jun '09 at 1.5801 and 8-Jul '09 at 1.5984 for the bottom)."
Resistance levels, according to the Kshitij Consultancy Service Team, lie at 1.6917-40, 1.7025-50 and 1.7180. On the downside, support levels lie at 1.6800, 1.6682-56 and. 1.6609
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