The British Pound extended its rally against the greenback up to a fresh 2-month high of 1.4663, and after a retracement down to 1.4575, the pair regained its upward strength, maintaining the overall bullish strength seen since the week started. The pair however, remains below its daily high after the release of poor US data, as attention centers in the EUR and the JPY, about to challenge critical levels. The GBP/USD pair 1 hour chart shows that the price is struggling to extend above a bullish 20 SMA, whilst the technical indicators head north above their mid-lines, something that at least, should keep the downside limited. In the 4 hours chart, the technical picture is neutral-to-bullish as the price bounced again from a bullish 20 SMA, but the momentum indicator heads nowhere around its 100 level, whilst the RSI is also flat, but around 65.
Support levels: 1.4590 1.4550 1.4510
Resistance levels: 1.4670 1.4710 1.4750