FXstreet.com (Barcelona) - The Pound has recovered partially after having posted a fresh intra-week low at 1.3845, and, after better than expected U.S. current account and CPI data, Sterling has posted a 100 pips rally to trade above yesterday's low at 1.3960.
On the upside 1.4027 and 1.40 70 are the closest resistance lines, and above here 1.4138, Mar 17 high. Below 1.3960, the Pound could drop to 1.3875, and if that support is broken, selling pressure could increase driving the pair down towards 1.3800.
On the longer perspective, the Pound is trading on a downward trending resistance line off Mar 16 high at 1.4235. The Pound should have to consolidate above 1.4025 and then grow past 1.4070 in order to establish a bottom at 1.3843.