FXstreet.com (Barcelona) - The Pound's rally has capped at 1.4660 (61.80% retracement level 1.5374 - 1.3505) and has dropped back somewhat below 1.4600 level, at the moment the Pound is trying to regain the 1.4600 level in order to advance further.

Failure to hold above 1.4600 could push the Pound lower to test resistance level at 1.4550, once below there, the selling pressure could increase pushing the GBP down to 1.4500. On the Upside, above 1.4660, next resistance level remains at 1.4700 and 1.4750.