On Wednesday Pound/Dollar continued decreasing significantly with 260 pips. The Cable depreciated from 1.5452 to 1.5190 yesterday, in line with the negative money flow sentiment at almost -34%, closing the day at 1.5232. Today the British Pound slipped even further, reaching down to 1.5128.
On the 1 hour chart the downward channel has accelerated, while on the 3 hour chart the downward channel is intact. First resistance is yesterday's peak at 1.5452. Break above it should extend the bullish movement further towards 1.5675. The nearest support level is today's bottom at 1.5128. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5000.
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