Sterling has enjoyed a strong ride during the latter portion of 2013 but has not received the catalyst needed to drive the currency pair above resistance. Prices have consolidated forming a stretched out flag pattern that should refresh if the fundamentals can carry the currency to new highs. The Bank of England is likely the most hawkish of the central banks and need economic data to improve from current levels to switch to a neutral stance, which would help the pound push above resistance levels and allow technical analysts to jump on board the sterling train. (full story)