FXstreet.com (Barcelona) - GBP/USD has continued trading in a bullish channel. During the Asian trading session, GBP/USD has appreciated from levels around 1.4560 to a maximum level of 1.4740, to turn down at the European session dropping about 100 pips to around 1.4640.

The pound is supported by moving averages in the hourly chart, and its slight retracement could face next support level at 1.4650, and below there 1.4585. Once broken this level, 1.4390 could come next.

On the upside, intra-week high at 1.4735 and 1.4760 are immediate resistance levels; above here 1.4875 is the closest resistance level below Feb 9 high at 1.4986.