FXstreet.com (Barcelona) - The Pound's decline bottomed yesterday at 1.4115 to rally all the way to intra-day highs at 1.4340 so far, getting back all the ground lost on Monday.
On the upside, 1.4360 could be the next resistance level for the Pound, above here, 1.4420 (Mar 26 low), and then 1.4495 (Mar 26 High). In case of a bearish reaction, next support could lie at 1.4260 and then 1.4220/30, and 1.4200.
Resistance level around 1.4340/60 should be watched for a rally higher, according to Carol Harmer, technical analyst at Charmer Charts: Sellers failed to break below 1.4110 which has seen buyers return to the market and they have pushed this higher to its 38% short term and longer-term fibs at 1.4347 and 1.4352 respectively (...)So this will be the level to watch today. If the make can push through this resistance you should find sellers turning around to join buyers which should help to push the market higher with 1.4425/50 looking to entice. Once more profit taking is expected here.