FXstreet.com (Barcelona) - The Pound has been moving in range Â¡between 1.4500 and 1.4560 during Wednesday's Asian session , after climbing up through 1.4450 resistance level, from lows at 1.4370 fuelled by the wave of optimism sparking from Bernanke's words.
Next resistance level stands at 1.4580, and above that level a test to intra-week high at 1.4660 might occur. Next resistance level is located at 1.4700 (Feb 9 low). First support line stands at the 1.4450/60 area, below there 1.4360, and 1.4300.
According to the Mataf. net technical team, the pair should move sideways during today's European session: GBP USD is in a range between 1,4390 and 1,4665. GBP USD moves without trend and swings around exponential moving averages (EMA 50 and 100). Bollinger bands are flat. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in Bollinger bands.