Pound remains under selling pressure, weighted by rumors of an early election in the U.K. after earlier GDP positive revision, give the U.K. government the chance to claim the economy is on the way to recovery. Hourly charts show the upside capped by 20 SMA, while current candle breaking the base of the small consolidative ascendant channel the pair was moving in. Next candle opening under the 1.5220/30 support area, should favor further falls in the pair to the 1.5180/90 area, yesterday’s low, and then 1.5135, next support in line.
Upside should remain limited by the 1.5270 zone. If above, pair could retest today’s high at 1.5320, and even extend to 1.5360 zone.
Upside should remain limited by the 1.5270 zone. If above, pair could retest today’s high at 1.5320, and even extend to 1.5360 zone.
