• Bearish picture still intact for the pound
• Dovish BOE, recession risks weigh on the sentiment
• Technical picture points towards weaker pound in the period ahead
• Bulls and bears fighting around the resistance line dating back to Feb 2022 highs around 1.36
• As long as bears are able to defend the trend line resistance, they still got the upper hand
• Bulls need to regain 1.164-1.174 levels to turn the odds in their favor
• Next support at 1.114-5 where strong demand was found
• Dovish BOE, recession risks weigh on the sentiment
• Technical picture points towards weaker pound in the period ahead
• Bulls and bears fighting around the resistance line dating back to Feb 2022 highs around 1.36
• As long as bears are able to defend the trend line resistance, they still got the upper hand
• Bulls need to regain 1.164-1.174 levels to turn the odds in their favor
• Next support at 1.114-5 where strong demand was found
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.