Pound Losing Power Against US Dollar

The pound sterling witnessed a noticeable decline against the US dollar within the expected negative outlook, in which we depended on a break of 1.3875 headings to touch the second target of the previous analysis 1.3750, recording the lowest level at 1.3723 during early trading for the current session.

On the technical side today, the downside movement is still dominating the pair’s movements, and the simple moving averages continue to exert negative pressure on prices.

From here, intraday trading below 1.3780 and the most important 1.3825 encourages us to maintain our negative outlook targeting 1.3680 the first target, and then 1.3630 an official next stop. In general, the daily trend is bearish unless we witness any trading again above 1.3875.

S1: 1.3680	R1: 1.3825
S2: 1.3630	R2: 1.3920
S3: 1.3540	R3: 1.3970