FXstreet.com (Barcelona) - After reaching yesterday's high at 1.4694, GBP/USD has lost around 70 pips to reach 1.4615 level. Currently the pair is trading around 1.4620/30.

According to the Kshitij Consultancy Service Team, the Pound´s renewed strength could drive the pair to 1.4800: There might be a possible rush towards 1.48 over the next few sessions, but a break below 1.4500 is likely to take it further towards 1.4365 which is the 50% retracement of the rise from 1.3655 (11-Mar) to 1.5070 (16-Apr). Which way does it move is to be seen. It presently trades very near to middle of the expected upside and downside levels; besides the trend, too, is ranged. So the view is mixed.

On the upside, the Pound could find resistance around 1.4692 (Apr 28 high) and above here, 1.4715/20 and then 1.4770 (Apr 24 high) On the downside, support levels stand at 1.4575, and below here, 1.4515 (Apr 28 and 29 low) and 1.4440.

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