The Pound Continues to Achieve Bearish Targets

The British pound is trading with clear negativity against the US dollar, hitting its lowest level during the previous trading session at 1.3754.

On the technical side, the daily trading is still below the previously broken support-into-resistance 1.3835, accompanied by negative pressure from the simple moving averages.

This encourages us to keep our negative outlook, targeting 1.3745, then 1.3700. It is important to note that breaking 1.3700 will increase and accelerate the strength of the daily bearish trend so that we will be waiting for 1.3665.

Activating the bearish scenario requires trading to remain below 1.3835. In general, we continue to suggest the bearish trend as long as trading is stable below 1.3890, Fibonacci correction of 61.80%.

S1: 1.3745	R1: 1.3835
S2: 1.3700	R2: 1.3880
S3: 1.3660	R3: 1.3920