Decreasing hopes of a BOE’s rate hike and the poor UK data put GBP under pressure.
The support rests at 1.34780 with resistance at 1.35740 which both lines are below the weekly pivot point at 1.36000. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving in oversold area, the Stochastic is moving in middle ranges and MACD line is above the signal line in the positive territory. The ADX is showing sell signal.
Short positions are recommended towards 1.3450.