Dollar Strength Continues
GBP/USD sell off continues to gain momentum as the pound continues to lose ground against the Dollar.
The breach of the 1.3620 support zone further strengthened the bearish sentiment and the most probable scenario for today is another attack on critical support at 1.3570. A successful breach of the mentioned level could pave the way towards the first support zone from the higher time frames at 1.3500.
Price did take a small bounce off support at 1.3570 in yesterdays trading session which maybe a result of oversold conditions, but the bears remain in firm control.
A recovery looks doubtful at this time while price remains below 50,100 & 200 MA on the 4Hr.
Support: 1.3570 - 1.3500
Resistance: 1.3660 – 1.3740
The breach of the 1.3620 support zone further strengthened the bearish sentiment and the most probable scenario for today is another attack on critical support at 1.3570. A successful breach of the mentioned level could pave the way towards the first support zone from the higher time frames at 1.3500.
Price did take a small bounce off support at 1.3570 in yesterdays trading session which maybe a result of oversold conditions, but the bears remain in firm control.
A recovery looks doubtful at this time while price remains below 50,100 & 200 MA on the 4Hr.
Support: 1.3570 - 1.3500
Resistance: 1.3660 – 1.3740
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