FXstreet.com (Barcelona) - The Sterling has been unable to hold above 1.4600 and it has dropped about 100 pips on early U.S. session to levels around 1.4500.

On the downside, below 1.4500, next support level comes at intra-day low at 1.4395 and below here Below there, 1.4338 (Mar 18 high) and 1.4230 (Mar 16 high). On the upside, resistance level remains at 1.4600 and above here, 1.4665, and 1.4710 (Feb 23 high); then 1.4750 and 1.4850.

According to Valeria Bednarik, collaborator at FXstreet.com, the pair remains slightly bullish in hourly charts: the pair remains slightly bullish in the hourly, supported by an ascendant trend line and the 20 SMA. Momentum is giving some bearish divergences that can send the pair to test the mentioned line. Need to see a clear detach of the 1.4550/1.4630 zone for further rallies.