FXstreet.com (Barcelona) - The Pound has reached 1.4935 intra-day high on its rally from 1.4760, and the Pound has eased afterwards to levels right below 1.4900 ahead of the U.S. session opening. At the moment, the Pound trades at 1.4885; 0.72% above its opening level.
On the downside, the Pound might find support at 1.4955/70 area and below there, 1.4820 and 1.4765. On the upside, resistance levels might lie at 1.4935/50 and 1.5065 (Apr 16 high).
According to Nicole Elliott, a weekly close above 1.5000 could anticipate further rally for the coming weeks: Holding above the 9 and 26-day moving averages but struggling ahead of the psychological 1.5000 area. We remind that only a weekly close above 1.5000 will give Cable a fighting chance for a decent rally.
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