is nearing the support zone
in the upward channel on the daily chart
. It's also in oversold levels on the slow stochastic
, and seems to be forming a similar pattern to the one in early February. In terms of fundamentals, the Pound still looks a lot better than the Yen, the UK's figures are good enough to warrant hiking rates in Q1 of 2015, while over in Japan things still seem to be in monetary easing mode.