GBP/USD reversed light gains made within Friday's range of 1.4257-1.4379 aro due in part to EUR/GBP. The cross currency rallied to a 4-day high of 0.6298 amid reports U.K.'s RBS might open merger talks with Ireland's AIB. The cable outlook is mixed.
Support: 1.4261 (overnight low), 1.4257 (March 16 low; 3 1/2-month low), 1.4136 (support line declining since Jan. 25), 1.3966 (Nov. 24 trough).
Resistance: 1.4335 (overnight high), 1.4402 (61.8% Fibonacci retracement level of Nov.-Jan. uptrend), 1.4534 (50% Fibonacci retracement level of the Nov.-Jan. rally), 1.4517 (20-day moving average), 1.4552 (100-day moving average), 1.4666 (38.2% Fibonacci retracement level of the Nov.-Jan. rally), 1.4650 (60-day moving average), 1.4756 (March 2 high).