• The sterling declined against dollar on Friday as the pair’s initial rally lost steam as the threat of a possible British exit from EU once again weighed on the pair.
   
• Currently the pair is trading around 1.4326 levels , it is set to decline further towards 1.4250 and later 1.4200 levels in the short term.
   
• To the upside, the strong resistance can be seen at 1.4438, a break above this level would expose the cable to next resistance level at 1.4531 levels.
   
• To the downside strong support can be seen at 1.4302, a break below at this level will open the door towards next level at 1.4268.
  
  Resistance Levels
  
  R1:  1.4369 (50 % Retracement level)      
  
  R2: 1.4438 (61.8 % Retracement level)   
  
  R3: 1.4531 (May 12th high)
  
  Support Levels
  
  S1: 1.4302 (38.2 % Retracement level)   
  
  S2: 1.4268 (April 19th low)
  
  S3: 1.4219 (23.6 % Retracement level)