Bank of New York Mellon: pound at a crossroads

Once the bulls become convinced that Ofer of $ 1.6350/60 were too large to overcome their first attempt, pound felt the weakening of interest in the purchase and planned lower as a result he now holds about $ 1.6320. The nearest support it receives bids close to the figure, while the following series of orders to buy are around $ 1.6285/80 with a greater concentration in the area of $ 1.6360. Currency strategists Bank of New York Mellon does not rule out further attempts to growth, noting that the main resistance is around $ 1.6480, but note that while the question of whether the rebound from the $ 1.6110 the beginning of a new wave of growth or the couple will resume fall, remains open. They note that in the long-term charts have the risk of head and shoulders, and to break below $ 1.6110 will open road to $ 1.5980 and $ 1.5800, while the ultimate goal of a reversal pattern is the area around $ 1.5000.