• GBP/USD rose towards higher levels on Thursday as sterling extended its gains against weaker dollar after Bank of England kept its interest unchanged.
   
• The pair rose in quick succession towards higher levels after BoE announcement, gaining more than 100pips to hit high at 1.4500 levels.
   
• Currently the cable is trading around 1.4465 levels, it is set to advance further towards 1.4500 later towards 1.4580 levels in the short term.
   
• To the upside, the strong resistance can be seen at 1.4500, a break above this level would expose to cable to next resistance level at 1.4598.
   
• To the downside immediate support can be seen at 1.4389, a break below will open the door towards next level at 1.4300.
  
  Resistance Levels
  
  R1: 1.4500 (50% Retracement Level)
  
  R2: 1.4598 (38.2% Retracement Level)
  
  R3: 1.4664 (Feb 4th high)
  
  Support Levels
  
  S1: 1.4389 (61.8% Retracement Level)
  
  S2: 1.4300 (Psychological levels)
  
  S3: 1.4265 (March 14th lows)