FXstreet.com (Barcelona) - GBP/USD was unable yesterday to break through 1.4445 (50% Fib. Retracement of the 1.5353 in Jan 9 to 1.3500 in Jan 23 fall) and it has dropped all the way down to 1.4210.
At the moment the pound remains around 1.4220 support line trying to find direction. Break of that support level coul bring the Pound down to 1.4130 (Feb 12 and Feb 17 low) and below there 1.4087 (Feb 18 low) before falling to two weeks low, with important support level art sight at 1.4050 (Feb 2 low).
On the upside, the Ace Trader Technical Team observes the possibility of a rebound from current levels to 1.4300: Although cable has fallen in tandem with euro n the retreat fm y'day's high at 1.4449 may extend to 1.4190/00, if our daily bullish outlook is correct, sup at 1.4176 shud limit downside n bring rebound, abv 1.4265/70 wud yield subsequent gain to 1.4300.