FXstreet.com (Barcelona) - The Pound has rallied above 160 pips from intra-day low at 1.4515 to reach 1.4687 few pips below yesterday's high at 1.4595 recovering, ahead of the U.S. session opening, all the ground lost on Yesterday's U.S. and Asian session.
According to the Kshitij Consultancy Service Team, the Pound could rush towards 1.4800: There might be a possible rush towards 1.48 over the next few sessions, but a break below 1.4500 is likely to take it further towards 1.4365 which is the 50% retracement of the rise from 1.3655 (11-Mar) to 1.5070 (16-Apr). Which way does it move is to be seen. It presently trades very near to middle of the expected upside and downside levels; besides the trend, too, is ranged. So the view is mixed.
On the upside, the Pound could find resistance around 1.4692 (Apr 28 high) and above here, 1.4715/20 and then 1.4770 (Apr 24 high) On the downside, support levels stand at 1.4575, and below here, 1.4515 (Apr 28 and 29 low) and 1.4440.
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