FXstreet.com (Barcelona) - Sterling found support at 1.4170 on its continuous decline from 1.4600 on Wednesday, and the pair has risen towards the 1.4300 resistance area, but the Sterling has not been strong enough, and selling pressure has increased sending the Pound back towards1.4170 level.

According to the Mataf.net technical analysis team, below 1.4170, the Pound could fall towards 1.3900 level: The price is just above 1,4180 support. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, daily (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should continue to move in 1,4180 / 1,4330 range. If the support breaks then the target will be 1,3900 (332 pips).