Pound to be effected by the higher demand on US dollars
The British Pound following the market in declining but in slower rate ; market successfully trading below 1.5050 which considered the major support area on the short-term ; as we mentioned at the Euro Section any break below the low of yesterday more lower levels is coming – but there is signal for market stabilize as well which will be clear by the close of the daily candle of today.
market still facing support level at 1.4850 where as long as market holding trades above this level the trading zone would sustain for the coming short-run , while as long as market holding trades above 1.4810 market will hold chances for bigger rebound correction
short-run trading zone may sustain between 1.4810 – 1.5450 zone
Daily Trend: Down
Weekly Trend: Down