FXstreet.com (Barcelona) - Decline from intra-day high at 1.4750 seems to have bottomed at 1.4580, and the Pound has strengthened ever since reaching to levels above 1.4675 ahead of the U.S. session opening, and heading back towards intra-day high.

On the upside, the Pound could face resistance at 1.4750 intra-day high, and above here, 1.4780 and 1.4825. On the downside, below 1.4675, next support level could lie at 1.4640 and 1.4570/80 (100-day Sma/ intra-day low).

According to the Kshitij Consultancy Service Team, 100 day moving average at 1.4570 is a key level for further decline: Cable fell further and took Support at the the 100-day MA at 1.4561. A break below may next target 1.43 but this Support at 1.4561-44 likely to be honoured during the US session. As mentioned earlier a dip towards 1.43 would possibly be the trough of the wave which began on 11th March 2009 and of the subwave which began on 30th March 2009.