FXstreet.com (Barcelona) - The Sterling continues climbing at a strong pace, rally from 1.4325 level extends way above 1.4500 and the Pound is setting an attack to the 1.4585/1.4600 resistance zone.

In case of a successful move above here, next resistance level could be at 1.4640 (Mar 26 high), 1.4685/90 (downward trendline from 1.5720 high on Dec 17) and then 1.4725 .Support levels, below 1.4585, stand at 1.4495 (Mar 27 high), 1.4385, and once past that level, 1.4320.

Carol Harmer, technical analyst at Charmer Charts, sees 1.4578 area as a trigger level for bulls or bears: Sterling strength prevailed and this has carried on this morning. There is resistance at these higher levels from short term fib level of 1.4578 and this is also a measured target from the small base formation that built yesterday. Expect sellers to show themselves at these highs and buyers would know of this resistance and be looking to liquidate any positions on approach to this point.

If the Pound can hold above current levels, Harmer advances the possibility of testing recent highs: If however a break above here you would see buyers re-emerge and sellers reverse positions as a break would signal a challenge on the recent highs of 1.4775/80.