FXstreet.com (Barcelona) - Cable has confirmed a sharp upward reaction from Mar 11 low recovering all the ground lost on last weeks decline; the Pound has just smashed Mar 9 high at 1.4180, rallying up to several pips below mar 5 high at 1.4235.

Above 1.4235, next resistance level comes at 1.4305, (Mar 6 high), once above here, 1.4365/80 and 1.4450 (Feb 19 high)

The Pound, however is deeply overbought in hourly and 4 hour charts, and a corrective pullback could be ahead. In that case, first support level could come at 1.4180 and below there, 1.4100, and 1.4040 (Mar 5 and 6 low), below here 1.3985, if thet support level gives, the Pound's hourly bullish bias would shift to bearish.