* GBP/USD took advantage of dollar's intraday weakness against the European currencies to bounce from a two-week low of 1.4442. Resistance is now seen at 1.4544 from the 20-day moving average and at 1.4557 from the 100-day moving average.
U.K. unemployment finally fell below the 1 million mark in February for the first time in more than 25 years, to deliver the government a welcome pre-election lift. The claimant count dropped 10,600 to 996,200, a rate of only 3.4%, and is now at its lowest since November 1975. The outlook is mixed to slightly bullish.

Support: 1.4442 (overnight low), 1.4402 (61.8% Fibonacci retracement level of Nov.-Jan. uptrend), 1.4319 (Feb. 20 low; 2 1/2-month low), 1.4311 (Dec. 5-6 lows), 1.3966 (Nov. 24 trough).
Resistance: 1.4534 (50% Fibonacci retracement level of the Nov.-Jan. rally), 1.4540 (overnight high), 1.4544 (20-day moving average), 1.4557 (100-day moving average), 1.4666 (38.2% Fibonacci retracement level of the Nov.-Jan. rally),1.4673 (60-day moving average), 1.4756 (March 2 high), 1.4830 (Feb. 5 high), 1.5031 (Jan. 12 high), 1.5043 (50% Fibonacci retracement level of Oct. 1999-Sep. 2000 downtrend).