FXstreet.com (Barcelona) - GBP/USD has bounced back at 1.3955 after yesterday's sell-of, the Pound has recovered about 100 pips on Tuesday's Asian Session, raising to levels between 1.4090 and 1.4135.
On a lnger term, the GBP/USD is inside a bearish configuration off Feb 23 high at 1.4663, and, according to Ther Mataf.net Technical Team, the Sterling should find resistance at current levels and drop further: GBP USD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 1,4150 (28 pips). The downtrend should continue on 1,3850 support (272 pips).
Nexrt resistance levels are at the 1.4135/50 area, (Feb 27 low) and above here, 1.4180/90 (Feb 25 low) and 1.4215. Next support levels are 1.4090, 1.4020 and below here yesterday's low at 1.3950.