FXstreet.com (Barcelona) - After testing 1.4650 support level, the GBP/USD has risen above 1.4700; Currently, the pair is trading around the 1.4715/25 band.

The Pound, which has been moving all the way from 1.4650 to 1.4760 during the European session time, was rejected by the support level at 1.4650 at the U.S. opening times and it begun to rise above 1.4700 level to 1.4736.

According to Valeria Bednarik, collaborator at FXstreet.com the pair remains bullish while above 1.4580: Bullish bias in the pair since Asia opening, the pair is attempting right now to break the 20 SMA in the hourly chart that remains bullish at the time. Indicators seem a bit exhausted in the chart, suggesting some downside correction before recovering previous upside trend. Break under 1.4580 will deny this perspective.