Sterling carries on its ascent as Britain’s jobless rate dropped to 4.8% between January and March. The pound was supported by rising bids after it broke above 1.4150.
The breakout confirms the bullish MA cross from last Friday. February’s peak at 1.4240 is a major resistance ahead. Its breach could extend the rally to 1.44s.
In the meantime, there is a limited risk to the downside as an overbought RSI within this supply zone may trigger profit-takings. 1.4130 is the immediate support should this happen.
