- The Sterling remained in strong bullish tone against dollar on Tuesday as buying interest continued as the pair was helped by two polls showing the "in camp well" ahead in the run into June’s referendum on European Union membership.
- Currently the pair is approaching to testing resistance level located at 1.4416, it is set to breach and reach higher levels in the short term.
- To the upside, the strong resistance can be seen at 1.4340, a break above this level would expose to cable to next resistance level at 1.4458.
- To the downside immediate support can be seen at 1.4340, a break below will open the door towards next level at 1.4262.
Resistance Levels
R1: 1.4416 (38.2% Retracement Level)
R2: 1.4458 (March 31st high)
R3: 1.4511 (23.6% Retracement Level)
Support Levels
S1: 1.4340 (50% Retracement Levels)
S2: 1.4262 (61.8% Retracement Levels)
S3: 1.4200 (Psychological levels)