FXstreet.com (Barcelona) - The Pound is performing a remarkable recovery after having found support at 1.4580 level on late European session, Sterling reaches past 1.4850 taking back all the ground lost on European session.
On its way up, the Pound could face resistance at 1.4775 and, once above here, and above here, probably 1.4830 and 1.4880. In case of a downward reaction below 1.4750, 1.4680 could act as next support level and, below here, 1.4640 and 1.4580.
According to Valeria Bednarik, collaborator at FXstreet.com, if the Pound remains above 1.4720/30, further climbing could be seen: 200 EMA in the hourly hold the downside and the pair is quickly recovering upside momentum. Quoting above the 20 SMA first dynamic support for today, momentum points for an upside recovery in the next hours, if price manages to break above static resistance zone around 1.4720/30. CCI confirms bullish continuation with a straight downside up of the 0.00 line.