FXstreet.com (Barcelona) - The Pound seems to have found a support level at 1.4535 on its 280 pips sell off experienced during the European session, and the pair has remained trading from the mentioned low to 1.4590 ahead of the U.S. session opening.

On the upside, next resistance levels could stand at 1.4600 (Apr 13 low), and above here, 1.4650. In case of further weakness, below 1.4535, next support levels could come at 1.4425/45 level.

According to the Kshitij Consultancy Service Team, the pound should break above 1.4600 in order to recover and avoid visiting lower levels: Thus there is a very good chance that the uptrend that had started at 1.3655 (11-Mar) has been broken, or is under serious threat at the very least. If the market remains below 1.46 today (it well might), further decline towards 1.4463 might be at hand. Rallies towards 1.46, if seen, are likely to attract selling.

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