FXstreet.com (Barcelona) - The Pound rose against the Dollar in Thursday and Friday, but, according to Ted Wilson, Technical analyst at iForex, the cable's rally is losing strength: The upward impulse of the Sterling, which we witnessed on Thursday, continued on Friday, but now began to lose its strength. However the Cable still remains above 1.9590, which we mark as the first support for today.

Support and resistance levels, according to Wilson, stand as follows: If the Pound breaks this level, next support is the top from 16 December 2004 at 1.9540, and the 100 day MA at 1.9485, if the correction deepens. Resistance is at Friday's top 1.9710, followed by the 55 day MA 1.9760, and 1.9840, which is the down trend line between the tops from 31 December and 30 January.