FXstreet.com (Barcelona) - Resistance level at 14580 level has been tested on early European session although the Pound's rise has not been strong enough to break above, and the pair has pulled back to levels around 1.4550.
According to Tim Salem, collaborator at FXstreet.com the Sterling trades on a slightly bullish bias: Slight Bullish Hourly Sentiment takes root from the Daily Dynamic Support Area of 1.4434 through the Divergent Slope of the Hourly 20SMA in the near-Term. Shallow Price Appreciation sees contact with Dynamic Resistance at 1.4587, where RSI Readings of 52 and Downside Slope look to the Daily Pivot at 1.4520 in the Immediate-Term.
On the upside, Salem adverts about 1.4587 and 1.4620 levels: Upside Continuation from here sees a clip through 1.4587 followed by Weekly 61.8% Downleg Fib/ Static Resistance Confluence at 1.4620. Further View sees Confirmation of Bullish Bias towards 1.4648 Dynamic Resistance followed by the Static High @ 1.4709.
On the downside Salem observes 1.4496 as key level for bears: Failure to maintain Dynamic Support @ the 1.4496 20SMA sees Dynamic Risk to 1.4465 placing Price back into the Downtrend Channel View, followed by the Hourly Low of 1.4404.
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