Yesterday the pound closed below the weekly pivot point of 1.5358; it is now in a downtrend. Given that there is a weekly support below 1.5378 and the 15-day moving average is around 1.5250, it is more likely that among these levels the pair stops the fall. Therefore, it is recommended to buy, only the volume low, and if you observe the formation of fractal at these levels, it will be the sign of a bullish rebound, which could take it back to the 1.5460 level. The pound drops against the US dollar the more for three weeks before Britain’s policy makers release their quarterly Inflation Report next week, which will include findings on interest-rate guidance.
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