GBP/USD: Cable sets an attack to the 1.4360 resistance level

 @ibtimes
on February 26 2009 4:02 AM

FXstreet.com (Barcelona) - The Pound has rallied almost 200 pips already after bottoming at 1.4160 in Asian session and, at the moment the pair is launching an assault to the 1.4360 resistance line.

If the Cable holds above 1.4360, further buying pressure could drive Sterling twards 1.4435/50 area, and above there the path would be clear to the 1.4575 area Feb 25 high), reversing all the ground lost on yesterday's decline.

On the downside, the Pound could refuse to take 1.4360 and test 1.4300 again, if bearish pressure increasesm next6 support level could be intra-week low at 1.4165.

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