FXstreet.com (Barcelona) - Pound's reaction from 1.4475 intra-day low has reached above previous day high at 1.4575 to test resistance level at 1.4585/1.4600 after better then expected economic expectations index in Germany.

In case of growing above 1.4600, the Pound could find resistance at 1.4665/80 level and 1.4700. On the downside, once back below 1.4575, next support could lie at 1.4475/65 (intra-day low) and, once below there 1.4360.

According to Nicole Elliott, 26 SMA, around 1.4590 could be a key level: Dropping below first retracement support but bouncing from the 26-day moving average and the top of the Ichimoku 'cloud'. Let's see if Cable can capitalise on this during the rest of the day so that we get something bullish on the weekly chart.

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