Pound bears dragged the price down without any specific reasons, the market was quiet yesterday and there were no influential events.
The support rests at 1.37330 with resistance at 1.38610. The weekly pivot point at 1.37970 is located in between the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is above the EMA of 200 and the EMA of 100. The Stochastic is moving in low ranges, the RSI is moving in oversold area and the ADX is showing sell signal. The MACD indicator is in negative territory.
The resistance line seems too strong to be broken. The bearish trend will resume targeting 1.37000.
