The Relative Strength Index on the four-hour chart is just around 30, near oversold territory. While pound/dollar dropped below the 50 Simple Moving Average, it bounced off the 100 SMA and trades well above the 200 SMA. Only momentum, which flipped to the downside, serves as booster for bears.
Support awaits at 1.39, the daily low, and then by 1.3860 and 1.2830.
Resistance is at the round 1.40 level, followed by 1.4025, the daily high. Further above, 1.4050 and 1.31 await bulls.
Support awaits at 1.39, the daily low, and then by 1.3860 and 1.2830.
Resistance is at the round 1.40 level, followed by 1.4025, the daily high. Further above, 1.4050 and 1.31 await bulls.