FXstreet.com (Barcelona) - The Pound seems to be gathering strength after having bounced up at 1.4640, and the pair has stretched right above 1.4710 level.

On the upside, next resistance level comes at 1.4775 and above here, probably 1.4830 and 1.4880. On the downside, below 1.4640, next support levels could be 1.4565 (100-day moving average), and below there, 1.4460 (38.2% Fib retracement of Mar 11 to Apr 6 rally).

Carlo Harmer, technical Analyst at Charmer Charts, points out to 1.4735 to key level for bulls: Sterling faltered on the topside and touched 1,4959. Sellers came out in force and has knocked this sharply lower with 1.4642 the lows this morning. If this morning the market fails to break back above 1.4735 sellers would have won the day and will be able to push this back lower through 1.4610 to 1.4533.