FXstreet.com (Barcelona) - The Pound has lost all the ground taken during Asian session, dropping below 1.4920 support level to reach intra-day low levels below 1.4885 support.
Att the moment, the Pound trades below 1.4885 support level, next support level might be 1.4750/60 (May 1 low) and below there, 1.4700 (Apr 30 low). On the upside, above 1.4920, next resistance could lie at intra-day high 1.4980 and then 1.5050.
According to Tim Salem, collaborator at FXstreet.com, rejection from 1.4980 could drive the pair as low as 1.4803: Bullish Momentum carries Price towards the IntraDay High @ 1.4984, where slight Rejections sees Dynamic Support Confluence @ the 1.4926/1.4920 with the Hourly 20SMA. A Breach here sees the Daily Pivot at 1.4868 followed Dynamically by 1.4835 and the 1.4803 Handle-Area in the Near-Term.
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